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

OneWater Marine (NASDAQ:ONEW) had its target price lowered by research analysts at Truist Financial from $30.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 54.80% from the company’s previous close.

ONEW has been the topic of several other research reports. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Stifel Nicolaus reduced their price objective on shares of OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 15th. DA Davidson lowered their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp cut their target price on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. 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 company currently has an average rating of “Moderate Buy” and an average target price of $26.50.

OneWater Marine Stock Down 2.9 %

NASDAQ ONEW traded down $0.49 on Tuesday, reaching $16.15. The stock had a trading volume of 34,504 shares, compared to its average volume of 105,008. OneWater Marine has a 1 year low of $16.07 and a 1 year high of $31.94. The business has a 50 day moving average price of $20.72 and a 200 day moving average price of $22.98. 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 company has a market capitalization of $262.53 million, a price-to-earnings ratio of -40.37 and a beta of 2.58.

Insider Activity

In other news, Director J Steven Roy acquired 2,500 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip Austin Jr. Singleton acquired 13,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $18.60 per share, with a total value of $241,800.00. Following the acquisition, the chief executive officer now owns 667,368 shares of the company’s stock, valued at approximately $12,413,044.80. This represents a 1.99 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 28,485 shares of company stock valued at $543,089. 18.70% of the stock is owned by insiders.

Institutional Trading of OneWater Marine

Large investors have recently made changes to their positions in the business. Barclays PLC lifted its position in OneWater Marine by 267.9% during the 3rd quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after buying an additional 11,416 shares in the last quarter. Geode Capital Management LLC lifted its stake in OneWater Marine by 11.4% in the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after buying an additional 29,952 shares during the period. State Street Corp boosted its holdings in OneWater Marine by 0.5% during the third quarter. State Street Corp now owns 226,038 shares of the company’s stock worth $5,405,000 after buying an additional 1,131 shares during the last quarter. De Lisle Partners LLP grew its position in shares of OneWater Marine by 7.4% during the 3rd quarter. De Lisle Partners LLP now owns 58,043 shares of the company’s stock worth $1,390,000 after buying an additional 4,000 shares during the period. Finally, FMR LLC increased its stake in shares of OneWater Marine by 332.5% in 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 last quarter. Institutional investors own 94.32% of the company’s stock.

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.