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

OneWater Marine (NASDAQ:ONEW) had its target price lowered by equities researchers at DA Davidson from $27.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 11.65% from the stock’s current price.

ONEW has been the topic of several other reports. Benchmark reiterated a “hold” rating on shares of OneWater Marine in a report on Friday. KeyCorp dropped their price objective on OneWater Marine from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus dropped their price objective on OneWater Marine from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Friday. 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.com, OneWater Marine currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

OneWater Marine Trading Up 3.0 %

NASDAQ:ONEW traded up $0.60 during mid-day trading on Monday, reaching $20.60. The company’s stock had a trading volume of 17,992 shares, compared to its average volume of 88,783. The company’s fifty day simple moving average is $22.67 and its two-hundred day simple moving average is $24.62. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.29 and a quick ratio of 0.35. OneWater Marine has a twelve month low of $19.66 and a twelve month high of $35.86. The stock has a market cap of $330.77 million, a P/E ratio of -51.50 and a beta of 2.58.

Insider Activity

In related news, COO Anthony M. Aisquith acquired 5,000 shares of OneWater Marine stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $108,750.00. Following the transaction, the chief operating officer now directly owns 724,316 shares of the company’s stock, valued at $15,753,873. This trade represents a 0.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip Austin Jr. Singleton purchased 6,700 shares of OneWater Marine stock in a transaction on Thursday, September 5th. The shares were acquired at an average price of $22.39 per share, with a total value of $150,013.00. Following the transaction, the chief executive officer now directly owns 620,217 shares in the company, valued at $13,886,658.63. This trade represents a 1.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 20,034 shares of company stock worth $441,828. 18.70% of the stock is currently owned by insiders.

Institutional Trading of OneWater Marine

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of OneWater Marine by 332.5% during the third quarter. FMR LLC now owns 4,308 shares of the company’s stock worth $103,000 after purchasing an additional 3,312 shares during the period. SG Americas Securities LLC acquired a new stake in shares of OneWater Marine during the third quarter worth $119,000. Bfsg LLC raised its position in shares of OneWater Marine by 12.2% during the third quarter. Bfsg LLC now owns 5,186 shares of the company’s stock worth $124,000 after purchasing an additional 565 shares during the period. Barclays PLC raised its position in shares of 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 purchasing an additional 11,416 shares during the period. Finally, Rhumbline Advisers raised its position in shares of OneWater Marine by 5.4% during 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 period. Institutional investors 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.