Truist Financial Issues Pessimistic Forecast for OneWater Marine (NASDAQ:ONEW) Stock Price

OneWater Marine (NASDAQ:ONEW) had its price objective dropped by investment analysts at Truist Financial from $30.00 to $25.00 in a report released 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 54.80% from the company’s current price.

A number of other brokerages have also recently issued reports on ONEW. KeyCorp decreased 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, November 15th. Benchmark reissued a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. DA Davidson reduced their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, Stifel Nicolaus cut their price objective on OneWater Marine from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

OneWater Marine Trading Down 2.9 %

ONEW stock traded down $0.49 on Tuesday, hitting $16.15. 34,504 shares of the company were exchanged, compared to its average volume of 105,008. OneWater Marine has a twelve month low of $16.07 and a twelve month high of $31.94. The stock has a market capitalization of $262.53 million, a price-to-earnings ratio of -40.37 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 0.35. The business’s fifty day moving average is $20.72 and its two-hundred day moving average is $22.98.

Insider Activity

In related news, Director J Steven Roy acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $19.05 per share, for a total transaction of $47,625.00. Following the transaction, the director now owns 20,760 shares of the company’s stock, valued at approximately $395,478. The trade was a 13.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Philip Austin Jr. Singleton bought 11,939 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average price of $19.42 per share, for a total transaction of $231,855.38. Following the completion of the acquisition, the chief executive officer now directly owns 632,161 shares in the company, valued at approximately $12,276,566.62. The trade was a 1.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 28,485 shares of company stock valued at $543,089. 18.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OneWater Marine

Several hedge funds have recently modified their holdings of the stock. Royce & Associates LP increased its position in shares of OneWater Marine by 9.7% in the third quarter. Royce & Associates LP now owns 1,637,378 shares of the company’s stock worth $39,150,000 after acquiring an additional 144,926 shares in the last quarter. Geode Capital Management LLC lifted its stake in OneWater Marine by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock worth $7,028,000 after acquiring an additional 29,952 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in OneWater Marine by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 431,355 shares of the company’s stock worth $11,892,000 after acquiring an additional 24,364 shares during the period. Barclays PLC grew its stake in OneWater Marine by 267.9% during the 3rd quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after acquiring an additional 11,416 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in shares of OneWater Marine by 0.9% in the 3rd quarter. Private Management Group Inc. now owns 632,380 shares of the company’s stock valued at $15,120,000 after purchasing an additional 5,916 shares during the period. 94.32% of the stock is owned by hedge funds and other institutional investors.

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.