Truist Financial Cuts OneWater Marine (NASDAQ:ONEW) Price Target to $16.00

OneWater Marine (NASDAQ:ONEW - Free Report) had its target price decreased by Truist Financial from $25.00 to $16.00 in a research note issued to investors on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on ONEW. Stifel Nicolaus dropped 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 shares of OneWater Marine from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp dropped their target price on shares of OneWater Marine from $27.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $18.00 target price (down from $25.00) on shares of OneWater Marine in a research note on Friday, April 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, OneWater Marine presently has a consensus rating of "Hold" and a consensus price target of $19.60.

OneWater Marine Stock Up 5.1 %

OneWater Marine stock traded up $0.65 on Monday, hitting $13.49. 94,614 shares of the stock traded hands, compared to its average volume of 115,086. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08. The business's fifty day simple moving average is $16.36 and its 200 day simple moving average is $18.70. The firm has a market cap of $220.06 million, a P/E ratio of -18.74 and a beta of 2.33. OneWater Marine has a 1 year low of $12.02 and a 1 year high of $31.36.

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

Insiders Place Their Bets

In related news, CEO Philip Austin Jr. Singleton acquired 15,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $15.40 per share, with a total value of $231,000.00. Following the purchase, the chief executive officer now directly owns 682,368 shares of the company's stock, valued at approximately $10,508,467.20. This trade represents a 2.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 20.30% of the company's stock.

Hedge Funds Weigh In On OneWater Marine

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in OneWater Marine by 3.6% in the 4th quarter. Rhumbline Advisers now owns 19,420 shares of the company's stock valued at $338,000 after buying an additional 683 shares during the period. State Street Corp raised its stake in OneWater Marine by 0.5% in the third quarter. State Street Corp now owns 226,038 shares of the company's stock valued at $5,405,000 after buying an additional 1,131 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of OneWater Marine by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,194 shares of the company's stock valued at $125,000 after purchasing an additional 1,529 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of OneWater Marine during the fourth quarter worth $29,000. Finally, GAMMA Investing LLC lifted its position in OneWater Marine by 404.5% during the 1st quarter. GAMMA Investing LLC now owns 2,109 shares of the company's stock worth $34,000 after acquiring an additional 1,691 shares during the period. 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.