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

OneWater Marine (NASDAQ:ONEW) had its price objective reduced by research analysts at Stifel Nicolaus from $31.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 54.99% from the stock’s previous close.

Several other brokerages also recently issued reports on ONEW. DA Davidson reduced their price objective on OneWater Marine from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. KeyCorp reduced their target price on shares of OneWater Marine from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Truist Financial lowered their price target on shares of OneWater Marine from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Benchmark reissued a “hold” rating on shares of OneWater Marine in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.75.

OneWater Marine Price Performance

ONEW stock opened at $16.13 on Wednesday. The stock’s 50 day moving average price is $19.67 and its 200 day moving average price is $22.42. The firm has a market cap of $262.27 million, a P/E ratio of -40.32 and a beta of 2.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.31 and a current ratio of 1.28. OneWater Marine has a 1 year low of $14.29 and a 1 year high of $31.36.

Insider Buying and Selling

In related news, Director J Steven Roy purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $19.05 per share, for a total transaction of $47,625.00. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Philip Austin Jr. Singleton acquired 11,939 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average price of $19.42 per share, with a total value of $231,855.38. Following the completion of the acquisition, the chief executive officer now owns 632,161 shares in the company, valued at approximately $12,276,566.62. The trade was a 1.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 28,485 shares of company stock worth $543,089. 18.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of OneWater Marine by 0.5% in the 3rd quarter. State Street Corp now owns 226,038 shares of the company’s stock worth $5,405,000 after purchasing an additional 1,131 shares during the period. Geode Capital Management LLC raised its holdings in OneWater Marine by 11.4% in the third quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after buying an additional 29,952 shares during the period. FMR LLC lifted its position in OneWater Marine by 332.5% during 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. Barclays PLC grew its stake in OneWater Marine by 267.9% during the third quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after buying an additional 11,416 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in OneWater Marine by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 431,355 shares of the company’s stock worth $11,892,000 after buying an additional 24,364 shares during the period. 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.