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

OneWater Marine (NASDAQ:ONEW) had its target price cut by equities research analysts at Stifel Nicolaus from $34.00 to $31.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 55.00% from the company’s previous close.

A number of other equities research analysts have also weighed in on ONEW. KeyCorp lowered their target price on shares of OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday. Benchmark reissued a “hold” rating on shares of OneWater Marine in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

OneWater Marine Price Performance

ONEW stock opened at $20.00 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.29 and a quick ratio of 0.35. The company’s 50-day moving average is $22.67 and its 200-day moving average is $24.59. The stock has a market capitalization of $321.20 million, a PE ratio of -3.00 and a beta of 2.58. OneWater Marine has a 1 year low of $19.66 and a 1 year high of $35.86.

Insider Buying and Selling at OneWater Marine

In other news, COO Anthony M. Aisquith acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $21.25 per share, for a total transaction of $106,250.00. Following the completion of the purchase, the chief operating officer now owns 729,316 shares in the company, valued at approximately $15,497,965. This trade represents a 0.69 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Philip Austin Jr. Singleton bought 6,700 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was purchased at an average cost of $22.39 per share, with a total value of $150,013.00. Following the completion of the transaction, the chief executive officer now directly owns 620,217 shares of the company’s stock, valued at approximately $13,886,658.63. The trade was a 1.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 20,034 shares of company stock worth $441,828 in the last quarter. 18.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royce & Associates LP lifted its stake in shares of OneWater Marine by 9.7% during the 3rd quarter. Royce & Associates LP now owns 1,637,378 shares of the company’s stock valued at $39,150,000 after buying an additional 144,926 shares in the last quarter. Geode Capital Management LLC raised its holdings in OneWater Marine by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 293,831 shares of the company’s stock valued at $7,028,000 after acquiring an additional 29,952 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 24,364 shares in the last quarter. Private Management Group Inc. boosted its holdings in shares of OneWater Marine by 3.2% in the second quarter. Private Management Group Inc. now owns 626,464 shares of the company’s stock worth $17,272,000 after acquiring an additional 19,222 shares during the period. Finally, Barclays PLC boosted 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 worth $375,000 after acquiring an additional 11,416 shares during the period. 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.