OneWater Marine (NASDAQ:ONEW) Given New $30.00 Price Target at Truist Financial

OneWater Marine (NASDAQ:ONEW) had its price target boosted by investment analysts at Truist Financial from $28.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 15.21% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. KeyCorp cut their price target on shares of OneWater Marine from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird dropped their target price on OneWater Marine from $42.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.40.

OneWater Marine Stock Up 1.9 %

OneWater Marine stock traded up $0.49 during midday trading on Friday, reaching $26.04. The stock had a trading volume of 21,741 shares, compared to its average volume of 95,580. The stock has a market capitalization of $411.17 million, a P/E ratio of 4.82 and a beta of 2.52. The firm’s fifty day simple moving average is $24.42 and its 200-day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.37 and a current ratio of 1.26. OneWater Marine has a 1-year low of $21.78 and a 1-year high of $39.15.

OneWater Marine (NASDAQ:ONEW) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $424.23 million. OneWater Marine had a return on equity of 16.52% and a net margin of 4.19%. During the same period in the prior year, the business earned $1.28 earnings per share. As a group, analysts expect that OneWater Marine will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Philip Austin Jr. Singleton bought 2,378 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $25.47 per share, for a total transaction of $60,567.66. Following the purchase, the chief executive officer now owns 580,183 shares of the company’s stock, valued at approximately $14,777,261.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On OneWater Marine

A number of large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of OneWater Marine in the first quarter valued at $25,000. Quadrant Capital Group LLC grew its stake in OneWater Marine by 710.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 843 shares of the company’s stock valued at $31,000 after buying an additional 739 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in OneWater Marine by 875.7% in the 3rd 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 during the period. Spire Wealth Management raised its holdings in OneWater Marine by 140.7% in the 1st quarter. Spire Wealth Management now owns 1,360 shares of the company’s stock valued at $38,000 after acquiring an additional 795 shares during the period. Finally, UBS Group AG acquired a new stake in OneWater Marine during the second quarter worth approximately $43,000. Institutional investors own 63.98% 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 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.