DA Davidson Issues Pessimistic Forecast for OneWater Marine (NASDAQ:ONEW) Stock Price

OneWater Marine (NASDAQ:ONEW) had its price objective reduced by analysts at DA Davidson from $27.00 to $23.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential upside of 19.48% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a report on Friday, November 15th. KeyCorp dropped their price objective on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Stifel Nicolaus cut their target price on shares of OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.00.

OneWater Marine Price Performance

Shares of ONEW stock opened at $19.25 on Monday. The stock’s fifty day simple moving average is $22.58 and its 200 day simple moving average is $24.57. OneWater Marine has a one year low of $18.97 and a one year high of $35.86. The firm has a market cap of $309.16 million, a price-to-earnings ratio of -48.12 and a beta of 2.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.29 and a quick ratio of 0.35.

Insider Activity

In related news, CEO Philip Austin Jr. Singleton purchased 6,700 shares of OneWater Marine stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $22.39 per share, for a total transaction of $150,013.00. Following the transaction, the chief executive officer now directly owns 620,217 shares of the company’s stock, valued at approximately $13,886,658.63. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Anthony M. Aisquith bought 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $21.75 per share, with a total value of $108,750.00. Following the completion of the transaction, the chief operating officer now directly owns 724,316 shares in the company, valued at approximately $15,753,873. This trade represents a 0.70 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 20,034 shares of company stock valued at $441,828 over the last three months. 18.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ONEW. Barclays PLC lifted its holdings in shares of OneWater Marine by 267.9% in the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock valued at $375,000 after purchasing an additional 11,416 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 29,952 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 period. De Lisle Partners LLP lifted its holdings in OneWater Marine by 7.4% during the 3rd quarter. De Lisle Partners LLP now owns 58,043 shares of the company’s stock valued at $1,390,000 after purchasing an additional 4,000 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of OneWater Marine by 332.5% during the 3rd quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after buying an additional 3,312 shares during the period. Institutional investors and hedge funds own 94.32% of the company’s stock.

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.