KeyCorp Lowers OneWater Marine (NASDAQ:ONEW) Price Target to $22.00

OneWater Marine (NASDAQ:ONEW) had its price objective dropped by equities researchers at KeyCorp from $27.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 39.42% from the company’s previous close.

ONEW has been the topic of a number of other reports. DA Davidson reduced their price objective on shares of OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Truist Financial cut their price objective on OneWater Marine from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Stifel Nicolaus decreased their target price on OneWater Marine from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Benchmark restated a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.25.

OneWater Marine Stock Down 2.9 %

Shares of NASDAQ:ONEW opened at $15.78 on Wednesday. The stock’s 50-day moving average is $20.33 and its 200 day moving average is $22.80. The company has a market cap of $256.52 million, a PE ratio of -39.45 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.28 and a quick ratio of 0.35. OneWater Marine has a 1 year low of $15.35 and a 1 year high of $31.59.

Insider Transactions at OneWater Marine

In other news, CEO Philip Austin Jr. Singleton acquired 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average cost of $18.60 per share, for a total transaction 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 filing with the SEC, which can be accessed through this link. Also, Director J Steven Roy bought 2,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $19.05 per share, for a total transaction of $47,625.00. Following the completion of the purchase, the director now owns 20,760 shares in the company, valued at approximately $395,478. The trade was a 13.69 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 28,485 shares of company stock valued at $543,089 in the last quarter. 18.70% of the stock is owned by insiders.

Hedge Funds Weigh In On OneWater Marine

Hedge funds have recently bought and sold shares of the business. 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 valued at $103,000 after acquiring an additional 3,312 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of OneWater Marine in the third quarter worth $119,000. Bfsg LLC increased its position in OneWater Marine by 12.2% during the third quarter. Bfsg LLC now owns 5,186 shares of the company’s stock valued at $124,000 after acquiring an additional 565 shares during the last quarter. Barclays PLC lifted its holdings in 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 acquiring an additional 11,416 shares during the period. Finally, Rhumbline Advisers boosted its position in OneWater Marine by 5.4% in the second quarter. Rhumbline Advisers now owns 19,253 shares of the company’s stock worth $531,000 after purchasing an additional 994 shares during the last quarter. Hedge funds and other institutional investors 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.