West Marine Inc. (NASDAQ:WMAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “West Marine, Inc. is the largest specialty retailer of recreational and commercial boating supplies and apparel in the United States. They have three divisions (Stores, Wholesale (Port Supply), and Catalog), which all sell after-market recreational boating supplies directly to customers. They are also engaged, through its Port Supply business line and their stores, in the wholesale distribution of products to commercial customers and other retailers. “
Several other research firms have also recently weighed in on WMAR. B. Riley cut West Marine from a “buy” rating to a “neutral” rating and lowered their price target for the company from $12.00 to $10.00 in a report on Tuesday, June 21st. Forward View reaffirmed a “hold” rating on shares of West Marine in a report on Friday, July 22nd. Finally, Sidoti cut West Marine from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.30 to $9.00 in a report on Thursday, September 8th.
Shares of West Marine (NASDAQ:WMAR) opened at 8.15 on Tuesday. West Marine has a 12-month low of $7.70 and a 12-month high of $10.39. The firm has a market cap of $203.25 million, a P/E ratio of 32.21 and a beta of 1.38. The stock’s 50 day moving average price is $9.16 and its 200-day moving average price is $9.12.
West Marine (NASDAQ:WMAR) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $251.60 million for the quarter, compared to analysts’ expectations of $254.39 million. West Marine had a return on equity of 2.08% and a net margin of 0.89%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, analysts predict that West Marine will post $0.24 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in shares of West Marine by 1.4% in the second quarter. California State Teachers Retirement System now owns 38,647 shares of the company’s stock worth $324,000 after buying an additional 524 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of West Marine by 1.6% in the second quarter. Parametric Portfolio Associates LLC now owns 45,486 shares of the company’s stock worth $382,000 after buying an additional 709 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of West Marine by 2.8% in the second quarter. Nationwide Fund Advisors now owns 41,086 shares of the company’s stock worth $345,000 after buying an additional 1,100 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of West Marine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 118,295 shares of the company’s stock worth $993,000 after buying an additional 1,654 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in shares of West Marine by 7.3% in the second quarter. Teachers Advisors Inc. now owns 27,131 shares of the company’s stock worth $228,000 after buying an additional 1,856 shares in the last quarter. 61.26% of the stock is currently owned by institutional investors.
West Marine Company Profile
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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