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

OneWater Marine (NASDAQ:ONEW - Get Free Report) had its target price decreased by Stifel Nicolaus from $31.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 57.63% from the stock's previous close.

Several other research firms also recently weighed in on ONEW. Truist Financial dropped their target price on shares of OneWater Marine from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Benchmark reissued a "hold" rating on shares of OneWater Marine in a report on Friday, November 15th. DA Davidson reduced their target price on OneWater Marine from $27.00 to $23.00 and set a "neutral" rating on the stock in a report on Monday, November 18th. Finally, KeyCorp lowered their price target on OneWater Marine from $27.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.75.

OneWater Marine Stock Up 6.1 %

Shares of ONEW stock traded up $0.91 during mid-day trading on Wednesday, reaching $15.86. 117,899 shares of the company were exchanged, compared to its average volume of 147,067. 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 business's 50 day simple moving average is $19.87 and its 200 day simple moving average is $22.47. The company has a market capitalization of $257.82 million, a P/E ratio of -39.65 and a beta of 2.58. OneWater Marine has a fifty-two week low of $14.29 and a fifty-two week high of $31.36.

Insider Buying and Selling

In other news, CEO Philip Austin Jr. Singleton acquired 13,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $18.60 per share, with a total value of $241,800.00. Following the acquisition, the chief executive officer now directly owns 667,368 shares in the company, valued at approximately $12,413,044.80. The trade was a 1.99 % 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. Also, Director J Steven Roy bought 2,500 shares of OneWater Marine stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $19.05 per share, with a total value of $47,625.00. Following the completion of the purchase, the director now directly owns 20,760 shares in the company, valued at $395,478. This trade represents a 13.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 28,485 shares of company stock valued at $543,089. Insiders own 18.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ONEW. Bfsg LLC boosted its position in shares of OneWater Marine by 12.2% during the 3rd quarter. Bfsg LLC now owns 5,186 shares of the company's stock valued at $124,000 after purchasing an additional 565 shares in the last quarter. Rhumbline Advisers boosted its holdings in OneWater Marine by 5.4% during the second quarter. Rhumbline Advisers now owns 19,253 shares of the company's stock worth $531,000 after buying an additional 994 shares in the last quarter. State Street Corp grew its position in OneWater Marine by 0.5% in the third 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. Sei Investments Co. grew its position in OneWater Marine by 1.1% in the second quarter. Sei Investments Co. now owns 190,182 shares of the company's stock worth $5,243,000 after buying an additional 2,124 shares during the last quarter. Finally, FMR LLC increased its holdings 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 buying an additional 3,312 shares in the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

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.