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

OneWater Marine (NASDAQ:ONEW) had its target price dropped by research analysts at KeyCorp from $27.00 to $22.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 39.42% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their price target on shares of OneWater Marine from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 15th. DA Davidson lowered their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Truist Financial cut their price target on OneWater Marine from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Benchmark reissued a “hold” rating on shares of OneWater Marine in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.25.

OneWater Marine Price Performance

Shares of OneWater Marine stock opened at $15.78 on Wednesday. The stock’s fifty day moving average is $20.33 and its 200 day moving average is $22.80. OneWater Marine has a one year low of $15.35 and a one year high of $31.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.35 and a current ratio of 1.28. The stock has a market cap of $256.52 million, a P/E ratio of -39.45 and a beta of 2.58.

Insider Activity at OneWater Marine

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

Institutional Trading of OneWater Marine

A number of institutional investors have recently bought and sold shares of ONEW. FMR LLC increased 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 during the last quarter. SG Americas Securities LLC bought a new position in OneWater Marine during the 3rd quarter valued at about $119,000. Bfsg LLC raised its position in OneWater Marine by 12.2% in the 3rd quarter. Bfsg LLC now owns 5,186 shares of the company’s stock worth $124,000 after purchasing an additional 565 shares during the period. Barclays PLC lifted its stake in OneWater Marine by 267.9% in the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after purchasing an additional 11,416 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in OneWater Marine by 5.4% in the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after purchasing an additional 994 shares during the last quarter. 94.32% of the stock is currently 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 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.