Truist Financial Cuts OneWater Marine (NASDAQ:ONEW) Price Target to $25.00

OneWater Marine (NASDAQ:ONEW) had its target price decreased by analysts at Truist Financial from $30.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 58.43% from the company’s current price.

A number of other equities analysts also recently issued reports on ONEW. KeyCorp decreased their price target on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. DA Davidson lowered their target price on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research note on Friday, November 15th. Finally, Stifel Nicolaus lowered their price objective on OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, OneWater Marine currently has an average rating of “Moderate Buy” and an average target price of $25.25.

OneWater Marine Stock Down 2.9 %

Shares of NASDAQ ONEW opened at $15.78 on Tuesday. The firm has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $22.85. OneWater Marine has a 12 month low of $15.35 and a 12 month high of $31.59. The company has a current ratio of 1.28, a quick ratio of 0.35 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $256.52 million, a PE ratio of -39.45 and a beta of 2.58.

Insider Activity at OneWater Marine

In other news, CEO Philip Austin Jr. Singleton bought 13,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average price of $18.60 per share, for a total transaction of $241,800.00. Following the completion of the purchase, the chief executive officer now owns 667,368 shares in the company, valued at approximately $12,413,044.80. This represents a 1.99 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Steven Roy purchased 2,500 shares of OneWater Marine stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $19.05 per share, with a total value of $47,625.00. Following the transaction, the director now directly owns 20,760 shares of the company’s stock, valued at $395,478. This represents a 13.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 28,485 shares of company stock valued at $543,089 in the last 90 days. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of OneWater Marine

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in OneWater Marine by 332.5% during the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock valued at $103,000 after acquiring an additional 3,312 shares during the period. SG Americas Securities LLC purchased a new position in shares of OneWater Marine during the 3rd quarter worth $119,000. Bfsg LLC grew its position in shares of OneWater Marine by 12.2% during the 3rd quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after acquiring an additional 565 shares during the period. Barclays PLC increased its stake in shares of OneWater Marine by 267.9% in the 3rd quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after purchasing an additional 11,416 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in OneWater Marine by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after purchasing an additional 994 shares during the period. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

OneWater Marine Company Profile

OneWater Marine Inc operates as a recreational boat retailer in the United States. The company offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. It provides boat repair and maintenance services. In addition, the company arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina services.