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

OneWater Marine (NASDAQ:ONEW) had its price target trimmed by Truist Financial from $30.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

ONEW has been the topic of a number of other reports. DA Davidson cut their price target 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. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research note on Friday, November 15th. KeyCorp reduced their price objective on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, Stifel Nicolaus lowered 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, November 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OneWater Marine has an average rating of “Moderate Buy” and a consensus target price of $26.50.

OneWater Marine Trading Down 2.3 %

ONEW opened at $16.25 on Tuesday. The stock’s 50 day moving average price is $20.59 and its 200-day moving average price is $22.90. OneWater Marine has a one year low of $15.76 and a one year high of $31.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.35 and a current ratio of 1.28. The stock has a market cap of $264.16 million, a price-to-earnings ratio of -40.62 and a beta of 2.58.

Insider Transactions at OneWater Marine

In related news, CEO Philip Austin Jr. Singleton bought 11,939 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of $19.42 per share, with a total value of $231,855.38. Following the transaction, the chief executive officer now owns 632,161 shares in the company, valued at approximately $12,276,566.62. This trade represents a 1.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Steven Roy purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $19.05 per share, with a total value of $47,625.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders have bought a total of 28,485 shares of company stock valued at $543,089 in the last 90 days. Insiders own 18.70% of the company’s stock.

Institutional Trading of OneWater Marine

Several large investors have recently added to or reduced their stakes in the company. Bfsg LLC boosted its position in OneWater Marine by 12.2% in the third quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after buying an additional 565 shares during the last quarter. Rhumbline Advisers increased its stake in shares of OneWater Marine by 5.4% in the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after acquiring an additional 994 shares during the period. State Street Corp grew its position in OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company’s stock worth $5,405,000 after purchasing an additional 1,131 shares during the period. Sei Investments Co. lifted its holdings in shares of OneWater Marine by 1.1% in the 2nd quarter. Sei Investments Co. now owns 190,182 shares of the company’s stock valued at $5,243,000 after buying an additional 2,124 shares during the period. Finally, FMR LLC boosted its stake in shares of OneWater Marine by 332.5% in the third quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after buying an additional 3,312 shares during the last quarter. Hedge funds and other 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.