OneWater Marine (NASDAQ:ONEW) Price Target Cut to $31.00 by Analysts at Stifel Nicolaus

OneWater Marine (NASDAQ:ONEW) had its target price lowered by Stifel Nicolaus from $34.00 to $31.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a report on Friday. KeyCorp dropped their price target on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, OneWater Marine has an average rating of “Moderate Buy” and a consensus price target of $30.00.

OneWater Marine Stock Down 5.8 %

OneWater Marine stock opened at $20.00 on Friday. The company has a market capitalization of $321.20 million, a PE ratio of -50.00 and a beta of 2.58. OneWater Marine has a 12-month low of $19.66 and a 12-month high of $35.86. The firm’s fifty day moving average is $22.67 and its 200 day moving average is $24.62. The company has a quick ratio of 0.35, a current ratio of 1.29 and a debt-to-equity ratio of 1.04.

Insider Activity

In related news, CEO Philip Austin Jr. Singleton bought 6,700 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of $22.39 per share, for a total transaction of $150,013.00. Following the completion of the acquisition, the chief executive officer now directly owns 620,217 shares of the company’s stock, valued at $13,886,658.63. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anthony M. Aisquith purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $21.25 per share, with a total value of $106,250.00. Following the acquisition, the chief operating officer now directly owns 729,316 shares of the company’s stock, valued at $15,497,965. This represents a 0.69 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 20,034 shares of company stock worth $441,828 over the last three months. 18.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of OneWater Marine by 332.5% during the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after buying an additional 3,312 shares in the last quarter. SG Americas Securities LLC bought a new stake in OneWater Marine during the third quarter worth $119,000. 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 worth $124,000 after purchasing an additional 565 shares during the last quarter. SageView Advisory Group LLC bought a new position in OneWater Marine in the 1st quarter valued at $322,000. Finally, Barclays PLC increased its position in shares of OneWater Marine by 267.9% during the 3rd 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 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.