KeyCorp Has Lowered Expectations for OneWater Marine (NASDAQ:ONEW) Stock Price

OneWater Marine (NASDAQ:ONEW) had its price objective reduced by KeyCorp from $29.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 27.18% from the stock’s previous close.

Separately, Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research note on Wednesday, July 31st. Two 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 an average price target of $30.75.

OneWater Marine Price Performance

OneWater Marine stock opened at $21.23 on Friday. The stock has a market capitalization of $340.95 million, a P/E ratio of -3.19 and a beta of 2.58. The company’s fifty day moving average price is $22.71 and its 200 day moving average price is $24.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.35 and a current ratio of 1.29. OneWater Marine has a 1 year low of $20.00 and a 1 year high of $35.86.

Insider Activity

In other news, COO Anthony M. Aisquith purchased 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $21.25 per share, for a total transaction of $106,250.00. Following the completion of the transaction, the chief operating officer now directly owns 729,316 shares in the company, valued at approximately $15,497,965. This represents a 0.69 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Philip Austin Jr. Singleton acquired 3,334 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $23.04 per share, with a total value of $76,815.36. Following the acquisition, the chief executive officer now directly owns 613,517 shares of the company’s stock, valued at approximately $14,135,431.68. This represents a 0.55 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 20,034 shares of company stock valued at $441,828. 18.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OneWater Marine

A number of large investors have recently modified their holdings of ONEW. FMR LLC boosted its holdings in shares of OneWater Marine by 332.5% in 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 during the period. SG Americas Securities LLC acquired a new stake in shares of OneWater Marine in the 3rd quarter worth $119,000. Bfsg LLC boosted its holdings in shares of 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 acquiring an additional 565 shares in the last quarter. SageView Advisory Group LLC purchased a new position in OneWater Marine during the first quarter worth about $322,000. Finally, Rhumbline Advisers raised its holdings in 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 purchasing an additional 994 shares in the last quarter. 94.32% of the stock is owned by hedge funds and other institutional investors.

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.