OneWater Marine (NASDAQ:ONEW) Given New $23.00 Price Target at DA Davidson

OneWater Marine (NASDAQ:ONEW) had its price target lowered by DA Davidson from $27.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price target would suggest a potential upside of 11.65% from the stock’s previous close.

ONEW has been the subject of a number of other reports. Stifel Nicolaus dropped their target price on OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a report on Friday. KeyCorp dropped their target price on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday. Finally, Benchmark reissued a “hold” rating on shares of OneWater Marine in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

OneWater Marine Stock Performance

NASDAQ:ONEW traded up $0.60 during mid-day trading on Monday, hitting $20.60. 17,992 shares of the company’s stock traded hands, compared to its average volume of 88,783. The firm has a 50 day moving average of $22.67 and a two-hundred day moving average of $24.62. The company has a current ratio of 1.29, a quick ratio of 0.35 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $330.77 million, a price-to-earnings ratio of -51.50 and a beta of 2.58. OneWater Marine has a 12 month low of $19.66 and a 12 month high of $35.86.

Insider Buying and Selling

In related news, CEO Philip Austin Jr. Singleton purchased 6,700 shares of OneWater Marine stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $22.39 per share, for a total transaction of $150,013.00. Following the transaction, the chief executive officer now directly owns 620,217 shares of the company’s stock, valued at approximately $13,886,658.63. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Anthony M. Aisquith acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $108,750.00. Following the purchase, the chief operating officer now directly owns 724,316 shares in the company, valued at $15,753,873. This trade represents a 0.70 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,034 shares of company stock worth $441,828 in the last three months. Insiders own 18.70% of the company’s stock.

Institutional Trading of OneWater Marine

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in OneWater Marine by 332.5% during the third quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after purchasing an additional 3,312 shares during the period. SG Americas Securities LLC acquired a new stake in shares of OneWater Marine in the third quarter valued at approximately $119,000. Bfsg LLC raised its position in OneWater Marine by 12.2% during the third quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after purchasing an additional 565 shares in the last quarter. Barclays PLC raised its position in OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after purchasing an additional 11,416 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of OneWater Marine by 5.4% during the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after buying an additional 994 shares in the last quarter. Institutional investors and hedge funds own 94.32% of the company’s stock.

About OneWater Marine

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.