OneWater Marine (NASDAQ:ONEW) Price Target Cut to $16.00 by Analysts at Truist Financial

OneWater Marine (NASDAQ:ONEW) had its target price reduced by stock analysts at Truist Financial from $25.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 25.49% from the stock’s previous close.

Several other research firms have also weighed in on ONEW. Stifel Nicolaus reduced their price objective on OneWater Marine from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Baird R W cut OneWater Marine from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp reduced their price objective on shares of OneWater Marine from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $18.00 target price (down from $25.00) on shares of OneWater Marine in a report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.80.

OneWater Marine Price Performance

NASDAQ:ONEW opened at $12.75 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The business’s 50-day moving average price is $16.60 and its 200 day moving average price is $18.81. OneWater Marine has a 52-week low of $12.02 and a 52-week high of $31.36. The firm has a market cap of $207.99 million, a P/E ratio of -17.71 and a beta of 2.33.

OneWater Marine (NASDAQ:ONEW) last released its earnings results on Thursday, January 30th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.30. OneWater Marine had a negative net margin of 0.59% and a positive return on equity of 3.09%. As a group, sell-side analysts predict that OneWater Marine will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OneWater Marine news, CEO Philip Austin Jr. Singleton acquired 15,000 shares of OneWater Marine stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $15.40 per share, with a total value of $231,000.00. Following the completion of the transaction, the chief executive officer now owns 682,368 shares of the company’s stock, valued at $10,508,467.20. The trade was a 2.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in OneWater Marine during the fourth quarter valued at about $29,000. GAMMA Investing LLC increased its position in shares of OneWater Marine by 404.5% during the first quarter. GAMMA Investing LLC now owns 2,109 shares of the company’s stock valued at $34,000 after purchasing an additional 1,691 shares during the period. FMR LLC raised its stake in shares of OneWater Marine by 332.5% in the third quarter. FMR LLC now owns 4,308 shares of the company’s stock valued at $103,000 after purchasing an additional 3,312 shares in the last quarter. Wells Fargo & Company MN lifted its position in OneWater Marine by 27.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,194 shares of the company’s stock worth $125,000 after purchasing an additional 1,529 shares during the period. Finally, AlphaQuest LLC acquired a new stake in OneWater Marine during the fourth quarter worth $158,000. 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.