OneWater Marine (NASDAQ:ONEW) Price Target Cut to $22.00 by Analysts at KeyCorp

OneWater Marine (NASDAQ:ONEW) had its price objective decreased by analysts at KeyCorp from $27.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 38.89% from the stock’s previous close.

ONEW has been the topic of several other reports. DA Davidson cut their price objective 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. Truist Financial reduced their price target on OneWater Marine from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus dropped 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. Finally, Benchmark reiterated a “hold” rating on shares of OneWater Marine in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, OneWater Marine presently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

OneWater Marine Stock Down 2.5 %

Shares of ONEW stock traded down $0.41 on Wednesday, hitting $15.84. The stock had a trading volume of 158,313 shares, compared to its average volume of 143,522. The company has a quick ratio of 0.35, a current ratio of 1.28 and a debt-to-equity ratio of 1.06. OneWater Marine has a one year low of $15.35 and a one year high of $31.59. The business has a 50 day moving average price of $20.59 and a 200 day moving average price of $22.90. The company has a market cap of $257.50 million, a PE ratio of -39.60 and a beta of 2.58.

Insider Buying and Selling

In related news, CEO Philip Austin Jr. Singleton purchased 13,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $18.60 per share, with a total value of $241,800.00. Following the completion of the acquisition, 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 is accessible through this link. Also, Director J Steven Roy acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $19.05 per share, for a total transaction of $47,625.00. Following the completion of the acquisition, the director now directly 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 disclosure for this purchase can be found here. Insiders have acquired a total of 28,485 shares of company stock worth $543,089 in the last ninety days. 18.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barclays PLC lifted 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 during the period. Geode Capital Management LLC lifted its holdings in shares of OneWater Marine by 11.4% in the 3rd 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 stake in shares of OneWater Marine by 0.5% in 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 holdings in OneWater Marine by 7.4% during the third quarter. De Lisle Partners LLP now owns 58,043 shares of the company’s stock worth $1,390,000 after acquiring an additional 4,000 shares during the period. Finally, FMR LLC raised its position in OneWater Marine by 332.5% during the third quarter. FMR LLC now owns 4,308 shares of the company’s stock valued at $103,000 after acquiring an additional 3,312 shares in the last quarter. 94.32% of the stock is currently 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.