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

OneWater Marine (NASDAQ:ONEW) had its price objective decreased by Truist Financial from $30.00 to $25.00 in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. KeyCorp cut their price target on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. DA Davidson reduced their target price on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Stifel Nicolaus dropped their price target on OneWater Marine from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.25.

OneWater Marine Trading Down 2.9 %

NASDAQ ONEW opened at $15.78 on Tuesday. 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 current ratio of 1.28 and a quick ratio of 0.35. The firm has a market cap of $256.52 million, a P/E ratio of -39.45 and a beta of 2.58. The stock’s 50-day moving average is $20.33 and its 200-day moving average is $22.80.

Insider Activity at OneWater Marine

In other OneWater Marine news, Director J Steven Roy purchased 2,500 shares of OneWater Marine stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $19.05 per share, for a total transaction of $47,625.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Philip Austin Jr. Singleton acquired 13,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $18.60 per share, for a total transaction of $241,800.00. Following the purchase, the chief executive officer now directly owns 667,368 shares of the company’s stock, valued at approximately $12,413,044.80. This trade represents a 1.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 28,485 shares of company stock valued at $543,089. 18.70% of the stock is owned by insiders.

Hedge Funds Weigh In On OneWater Marine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of 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 last quarter. Geode Capital Management LLC raised its holdings in OneWater Marine by 11.4% in the 3rd 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 period. FMR LLC lifted its position in OneWater Marine by 332.5% during 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 during the last quarter. Barclays PLC boosted 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 worth $375,000 after acquiring an additional 11,416 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 purchasing an additional 24,364 shares during the last quarter. 94.32% 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 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.