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

OneWater Marine (NASDAQ:ONEW) had its price target cut by analysts at KeyCorp from $22.00 to $16.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 25.24% from the stock’s current price.

Several other analysts also recently issued reports on ONEW. Truist Financial cut their price target on OneWater Marine from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $18.00 target price (down from $25.00) on shares of OneWater Marine in a research note on Friday, April 4th. Baird R W lowered shares of OneWater Marine from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Stifel Nicolaus cut their price objective on shares of OneWater Marine from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.60.

OneWater Marine Stock Performance

OneWater Marine stock traded down $0.07 during mid-day trading on Thursday, reaching $12.78. The company’s stock had a trading volume of 12,959 shares, compared to its average volume of 114,507. The firm has a market cap of $208.40 million, a price-to-earnings ratio of -17.69 and a beta of 2.33. OneWater Marine has a twelve month low of $12.02 and a twelve month high of $31.36. The business has a 50 day moving average price of $16.48 and a 200-day moving average price of $18.77. The company has a current ratio of 1.24, a quick ratio of 0.25 and a debt-to-equity ratio of 1.08.

OneWater Marine (NASDAQ:ONEW) last announced its quarterly earnings data on Thursday, January 30th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.30. OneWater Marine had a negative net margin of 0.59% and a positive return on equity of 3.09%. Sell-side analysts predict that OneWater Marine will post 1.57 EPS for the current fiscal year.

Insider Activity at OneWater Marine

In related news, CEO Philip Austin Jr. Singleton acquired 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $15.40 per share, for a total transaction of $231,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 682,368 shares of the company’s stock, valued at approximately $10,508,467.20. The trade was a 2.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 20.30% of the company’s stock.

Institutional Investors Weigh In On OneWater Marine

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of OneWater Marine by 267.9% in the 3rd quarter. Barclays PLC now owns 15,677 shares of the company’s stock worth $375,000 after buying an additional 11,416 shares in the last quarter. Sei Investments Co. grew its holdings in OneWater Marine by 14.0% during the fourth quarter. Sei Investments Co. now owns 229,506 shares of the company’s stock worth $3,989,000 after acquiring an additional 28,164 shares during the period. First Eagle Investment Management LLC bought a new stake in OneWater Marine in the fourth quarter worth about $588,000. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 29,952 shares during the last quarter. Finally, State Street Corp lifted its holdings in OneWater Marine by 0.5% in the 3rd 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. 94.32% of the stock is currently owned by institutional investors and hedge funds.

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.