KeyCorp Trims OneWater Marine (NASDAQ:ONEW) Target Price to $32.00

OneWater Marine (NASDAQ:ONEW) had its price objective trimmed by KeyCorp from $36.00 to $32.00 in a report published on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

ONEW has been the subject of several other reports. Robert W. Baird lowered their price objective on OneWater Marine from $42.00 to $32.00 and set an outperform rating for the company in a research report on Friday, August 4th. Truist Financial lowered their price objective on OneWater Marine from $32.00 to $28.00 and set a buy rating for the company in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $32.40.

OneWater Marine Trading Down 0.9 %

Shares of OneWater Marine stock opened at $25.84 on Friday. The firm has a market capitalization of $407.94 million, a price-to-earnings ratio of -9.33 and a beta of 2.52. OneWater Marine has a fifty-two week low of $21.78 and a fifty-two week high of $39.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.37 and a current ratio of 1.26. The stock has a 50 day moving average of $24.44 and a 200 day moving average of $28.74.

OneWater Marine (NASDAQ:ONEW) last issued its quarterly earnings data on Thursday, November 16th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). The business had revenue of $450.98 million during the quarter, compared to analysts’ expectations of $424.23 million. OneWater Marine had a positive return on equity of 13.60% and a negative net margin of 1.99%. During the same quarter in the previous year, the company posted $1.28 earnings per share. As a group, research analysts predict that OneWater Marine will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Philip Austin Jr. Singleton purchased 2,378 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $25.47 per share, for a total transaction of $60,567.66. Following the completion of the purchase, the chief executive officer now directly owns 580,183 shares of the company’s stock, valued at $14,777,261.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.40% of the stock is owned by insiders.

Institutional Trading of OneWater Marine

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of OneWater Marine in the first quarter valued at $25,000. Quadrant Capital Group LLC raised its stake in shares of OneWater Marine by 710.6% in the second quarter. Quadrant Capital Group LLC now owns 843 shares of the company’s stock valued at $31,000 after acquiring an additional 739 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of OneWater Marine by 875.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,122 shares of the company’s stock valued at $34,000 after acquiring an additional 1,007 shares in the last quarter. UBS Group AG acquired a new stake in shares of OneWater Marine in the second quarter valued at $43,000. Finally, Credit Suisse AG acquired a new stake in shares of OneWater Marine in the second quarter valued at $44,000. 63.98% of the stock is currently owned by institutional investors and hedge funds.

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 also 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, as well as rental of boats and personal watercraft.