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

OneWater Marine (NASDAQ:ONEW) had its price target lowered by equities research analysts at KeyCorp from $27.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 38.89% from the company’s current price.

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

OneWater Marine Price Performance

Shares of OneWater Marine stock traded down $0.41 on Wednesday, hitting $15.84. The company’s stock had a trading volume of 158,313 shares, compared to its average volume of 143,522. The company has a market capitalization of $257.50 million, a price-to-earnings ratio of -39.60 and a beta of 2.58. OneWater Marine has a 1 year low of $15.35 and a 1 year high of $31.59. 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 firm has a fifty day moving average price of $20.59 and a 200-day moving average price of $22.90.

Insider Activity

In related news, Director J Steven Roy purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average cost of $19.05 per share, for a total transaction of $47,625.00. Following the completion of the transaction, the director now directly owns 20,760 shares of the company’s stock, valued at approximately $395,478. This trade represents a 13.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip Austin Jr. Singleton acquired 13,000 shares of OneWater Marine stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $18.60 per share, for a total transaction of $241,800.00. Following the transaction, the chief executive officer now owns 667,368 shares of the company’s stock, valued at $12,413,044.80. This represents a 1.99 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 28,485 shares of company stock worth $543,089 over the last three months. Insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP increased its position in OneWater Marine by 9.7% during the third quarter. Royce & Associates LP now owns 1,637,378 shares of the company’s stock worth $39,150,000 after purchasing an additional 144,926 shares during the last quarter. Private Management Group Inc. grew its stake in shares of OneWater Marine by 0.9% in the 3rd quarter. Private Management Group Inc. now owns 632,380 shares of the company’s stock valued at $15,120,000 after buying an additional 5,916 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of OneWater Marine by 6.0% during the 2nd 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 last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 29,952 shares during the period. Finally, State Street Corp lifted its holdings 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 acquiring an additional 1,131 shares during the last quarter. 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.