Truist Financial Lowers OneWater Marine (NASDAQ:ONEW) Price Target to $25.00

OneWater Marine (NASDAQ:ONEW) had its price target dropped by Truist Financial from $30.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 58.43% from the stock’s previous close.

Several other research firms have also recently commented on ONEW. DA Davidson reduced their target price on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Benchmark reissued a “hold” rating on shares of OneWater Marine in a report on Friday, November 15th. Stifel Nicolaus decreased their price objective on shares of 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, KeyCorp cut their price target on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.25.

OneWater Marine Stock Down 2.9 %

Shares of NASDAQ:ONEW opened at $15.78 on Tuesday. The firm has a fifty day moving average price of $20.45 and a two-hundred day moving average price of $22.85. The company has a market cap of $256.52 million, a price-to-earnings ratio of -39.45 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 0.35. OneWater Marine has a one year low of $15.35 and a one year high of $31.59.

Insider Activity at OneWater Marine

In other OneWater Marine news, CEO Philip Austin Jr. Singleton bought 11,939 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $19.42 per share, for a total transaction of $231,855.38. Following the transaction, the chief executive officer now directly owns 632,161 shares in the company, valued at $12,276,566.62. This trade represents a 1.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Steven Roy purchased 2,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $19.05 per share, with a total value of $47,625.00. Following the completion of the transaction, the director now owns 20,760 shares of the company’s stock, valued at approximately $395,478. This trade represents a 13.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 28,485 shares of company stock valued at $543,089. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of OneWater Marine

Several hedge funds and other institutional investors have recently bought and sold shares of ONEW. Royce & Associates LP grew its holdings in shares of OneWater Marine by 9.7% in the third quarter. Royce & Associates LP now owns 1,637,378 shares of the company’s stock worth $39,150,000 after purchasing an additional 144,926 shares during the last quarter. Private Management Group Inc. increased its position in shares of OneWater Marine by 0.9% in the third quarter. Private Management Group Inc. now owns 632,380 shares of the company’s stock valued at $15,120,000 after acquiring an additional 5,916 shares during the period. Dimensional Fund Advisors LP increased its position in shares of OneWater Marine by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 431,355 shares of the company’s stock valued at $11,892,000 after acquiring an additional 24,364 shares during the period. Geode Capital Management LLC raised its stake in shares of OneWater Marine by 11.4% during the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after acquiring an additional 29,952 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 purchasing an additional 1,131 shares during the period. 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.