OneWater Marine (NASDAQ:ONEW) Price Target Cut to $25.00 by Analysts at Stifel Nicolaus

OneWater Marine (NASDAQ:ONEW) had its price target lowered by research analysts at Stifel Nicolaus from $31.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 54.99% from the stock’s current price.

A number of other research firms have also issued reports on ONEW. Truist Financial dropped their price objective on shares of OneWater Marine from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. KeyCorp dropped their price target on shares of OneWater Marine from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Benchmark reissued a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Finally, DA Davidson dropped their target price on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Two research 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 a consensus price target of $23.75.

OneWater Marine Stock Performance

Shares of NASDAQ:ONEW opened at $16.13 on Wednesday. The business’s 50-day simple moving average is $19.67 and its 200 day simple moving average is $22.42. The company has a market cap of $262.27 million, a P/E ratio of -40.32 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.31 and a current ratio of 1.28. OneWater Marine has a one year low of $14.29 and a one year high of $31.36.

Insider Activity at OneWater Marine

In related news, Director J Steven Roy bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $19.05 per share, for a total transaction of $47,625.00. Following the acquisition, the director now directly owns 20,760 shares of the company’s stock, valued at $395,478. The trade was a 13.69 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Philip Austin Jr. Singleton bought 11,939 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost 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 disclosure for this purchase can be found here. Insiders have purchased 28,485 shares of company stock valued at $543,089 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On OneWater Marine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in OneWater Marine by 0.5% during the 3rd quarter. State Street Corp now owns 226,038 shares of the company’s stock worth $5,405,000 after buying an additional 1,131 shares during the period. Geode Capital Management LLC increased its position in shares of OneWater Marine by 11.4% in the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock worth $7,028,000 after acquiring an additional 29,952 shares in the last quarter. FMR LLC increased its position in shares of OneWater Marine by 332.5% in the third quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after acquiring an additional 3,312 shares in the last quarter. Barclays PLC raised its holdings in shares of OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after acquiring an additional 11,416 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of OneWater Marine by 6.0% in the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.