Zacks: West Marine Inc. (NASDAQ:WMAR) Receives Average Recommendation of “Buy” from Brokerages
West Marine Inc. (NASDAQ:WMAR) has been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. West Marine’s rating score has improved by 22.3% from three months ago as a result of various analysts’ ratings changes.
Analysts have set a 12-month consensus target price of $9.33 for the company and are predicting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given West Marine an industry rank of 191 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently commented on the company. B. Riley downgraded West Marine from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $10.00 in a report on Tuesday, June 21st. Zacks Investment Research upgraded West Marine from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. Finally, Forward View reiterated a “hold” rating on shares of West Marine in a report on Friday, July 22nd.
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A number of hedge funds and other institutional investors have recently bought and sold shares of WMAR. Emerald Acquisition Ltd. acquired a new position in West Marine during the second quarter worth about $492,000. Punch & Associates Investment Management Inc. boosted its position in West Marine by 16.9% in the second quarter. Punch & Associates Investment Management Inc. now owns 340,400 shares of the company’s stock worth $2,856,000 after buying an additional 49,300 shares during the last quarter. Renaissance Technologies LLC boosted its position in West Marine by 36.6% in the first quarter. Renaissance Technologies LLC now owns 132,526 shares of the company’s stock worth $1,205,000 after buying an additional 35,526 shares during the last quarter. GSA Capital Partners LLP boosted its position in West Marine by 91.3% in the second quarter. GSA Capital Partners LLP now owns 74,376 shares of the company’s stock worth $624,000 after buying an additional 35,496 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in West Marine by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 812,088 shares of the company’s stock worth $6,813,000 after buying an additional 34,492 shares during the last quarter. 61.26% of the stock is owned by hedge funds and other institutional investors.
West Marine (NASDAQ:WMAR) traded down 0.48% during trading on Friday, hitting $8.21. The company had a trading volume of 47,220 shares. The firm has a 50-day moving average of $9.03 and a 200 day moving average of $9.10. The company has a market capitalization of $204.75 million, a price-to-earnings ratio of 32.45 and a beta of 1.38. West Marine has a 12-month low of $7.70 and a 12-month high of $10.39.
West Marine (NASDAQ:WMAR) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.06. The company earned $251.60 million during the quarter, compared to the consensus estimate of $254.39 million. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities research analysts forecast that West Marine will post $0.24 earnings per share for the current year.
About West Marine
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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