Truist Financial Increases OneWater Marine (NASDAQ:ONEW) Price Target to $30.00

OneWater Marine (NASDAQ:ONEW) had its target price boosted by Truist Financial from $28.00 to $30.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on ONEW. KeyCorp lowered their price target on OneWater Marine from $36.00 to $32.00 and set an overweight rating on the stock in a research report on Friday. Robert W. Baird decreased their target price on OneWater Marine from $42.00 to $32.00 and set an outperform rating on the stock in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, OneWater Marine currently has an average rating of Moderate Buy and an average target price of $32.40.

OneWater Marine Price Performance

NASDAQ:ONEW opened at $25.84 on Friday. The stock has a market capitalization of $407.94 million, a PE ratio of -9.33 and a beta of 2.52. OneWater Marine has a 1-year low of $21.78 and a 1-year high of $39.15. The firm has a fifty day simple moving average of $24.44 and a 200 day simple moving average of $28.74. The company has a current ratio of 1.26, a quick ratio of 0.37 and a debt-to-equity ratio of 0.83.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings data on Thursday, November 16th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). The firm had revenue of $450.98 million during the quarter, compared to the consensus estimate of $424.23 million. OneWater Marine had a negative net margin of 1.99% and a positive return on equity of 13.60%. During the same period last year, the business earned $1.28 EPS. On average, research analysts expect that OneWater Marine will post 3.61 EPS for the current fiscal year.

Insider Transactions at OneWater Marine

In other news, CEO Philip Austin Jr. Singleton purchased 2,378 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $25.47 per share, with a total value of $60,567.66. Following the acquisition, the chief executive officer now owns 580,183 shares in the company, valued at approximately $14,777,261.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 20.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OneWater Marine

A number of hedge funds have recently bought and sold shares of ONEW. American Century Companies Inc. increased its holdings in shares of OneWater Marine by 1.1% during the first quarter. American Century Companies Inc. now owns 1,738,763 shares of the company’s stock worth $48,633,000 after purchasing an additional 19,187 shares during the period. Royce & Associates LP increased its stake in OneWater Marine by 1.6% during the 2nd quarter. Royce & Associates LP now owns 997,704 shares of the company’s stock worth $36,157,000 after acquiring an additional 15,849 shares during the period. BlackRock Inc. raised its holdings in OneWater Marine by 4.0% in the 2nd quarter. BlackRock Inc. now owns 810,660 shares of the company’s stock valued at $29,378,000 after acquiring an additional 31,524 shares in the last quarter. Capital World Investors lifted its position in shares of OneWater Marine by 42.7% during the 2nd quarter. Capital World Investors now owns 720,078 shares of the company’s stock valued at $26,096,000 after acquiring an additional 215,474 shares during the period. Finally, Private Management Group Inc. lifted its position in shares of OneWater Marine by 13.3% during the 3rd quarter. Private Management Group Inc. now owns 589,661 shares of the company’s stock valued at $15,107,000 after acquiring an additional 69,411 shares during the period. 63.98% of the stock is owned by 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 also 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, as well as rental of boats and personal watercraft.