Truist Financial Cuts OneWater Marine (NASDAQ:ONEW) Price Target to $13.00

OneWater Marine (NASDAQ:ONEW) had its target price cut by investment analysts at Truist Financial from $15.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 20.04% from the company’s current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered OneWater Marine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. KeyCorp reduced their price target on OneWater Marine from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Robert W. Baird set a $13.00 price objective on OneWater Marine in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.33.

OneWater Marine Stock Performance

Shares of ONEW opened at $10.83 on Monday. The company has a market cap of $179.99 million, a PE ratio of -1.44 and a beta of 1.53. The firm has a 50-day moving average of $10.97 and a 200-day moving average of $11.18. OneWater Marine has a one year low of $8.12 and a one year high of $17.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.16 and a quick ratio of 0.29.

OneWater Marine (NASDAQ:ONEW) last issued its earnings results on Thursday, April 30th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.43). OneWater Marine had a negative net margin of 6.69% and a positive return on equity of 2.22%. The firm had revenue of $442.29 million during the quarter, compared to analyst estimates of $477.30 million. OneWater Marine has set its FY 2026 guidance at 0.200-0.700 EPS. As a group, equities analysts forecast that OneWater Marine will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John Troiano sold 27,844 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $12.07, for a total transaction of $336,077.08. Following the transaction, the director directly owned 41,438 shares of the company’s stock, valued at approximately $500,156.66. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Philip Austin Jr. Singleton purchased 21,930 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was acquired at an average price of $10.88 per share, with a total value of $238,598.40. Following the completion of the transaction, the chairman owned 801,816 shares of the company’s stock, valued at $8,723,758.08. This represents a 2.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of OneWater Marine

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in shares of OneWater Marine during the 1st quarter worth $345,000. Goldman Sachs Group Inc. raised its stake in OneWater Marine by 8.2% in the first quarter. Goldman Sachs Group Inc. now owns 101,291 shares of the company’s stock valued at $1,639,000 after purchasing an additional 7,659 shares in the last quarter. Marshall Wace LLP lifted its position in OneWater Marine by 290.9% during the second quarter. Marshall Wace LLP now owns 92,042 shares of the company’s stock worth $1,232,000 after purchasing an additional 68,494 shares during the period. Raymond James Financial Inc. grew its stake in OneWater Marine by 94.7% during the second quarter. Raymond James Financial Inc. now owns 20,948 shares of the company’s stock worth $280,000 after buying an additional 10,189 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in OneWater Marine by 126.6% during the second quarter. Jane Street Group LLC now owns 25,831 shares of the company’s stock worth $346,000 after buying an additional 122,976 shares in the last quarter. 94.32% of the stock is currently owned by institutional investors.

OneWater Marine Company Profile

OneWater Marine Inc (NASDAQ: ONEW) is a leading U.S.-based recreational boat retailer offering a comprehensive range of marine products and services. Since its public debut in 2018, the company has built a broad network of locations that serve both coastal and inland markets. OneWater Marine focuses on delivering a full-service customer experience, from initial boat selection to long-term maintenance and support.

Through its dealership network, OneWater Marine markets new and pre-owned powerboats and personal watercraft from top manufacturers.