West Marine Inc. (WMAR) Rating Increased to Buy at B. Riley
West Marine Inc. (NASDAQ:WMAR) was upgraded by research analysts at B. Riley to a “buy” rating in a report released on Sunday. The brokerage currently has a $10.00 target price on the stock. B. Riley’s target price points to a potential upside of 21.21% from the company’s previous close.
Several other analysts have also weighed in on the company. Zacks Investment Research raised West Marine from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Sidoti lowered West Marine from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $9.30 to $9.00 in a report on Thursday, September 8th. Finally, Forward View reaffirmed a “hold” rating on shares of West Marine in a report on Friday, July 22nd.
Shares of West Marine (NASDAQ:WMAR) opened at 8.25 on Friday. West Marine has a 12 month low of $7.70 and a 12 month high of $10.39. The stock has a market capitalization of $205.75 million, a PE ratio of 32.61 and a beta of 1.38. The company’s 50 day moving average price is $8.99 and its 200 day moving average price is $9.10.
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West Marine (NASDAQ:WMAR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The firm 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 firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. Equities analysts anticipate that West Marine will post $0.24 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. bought a new position in West Marine during the second quarter valued at approximately $126,000. BlackRock Advisors LLC raised its position in shares of West Marine by 21.8% in the second quarter. BlackRock Advisors LLC now owns 14,966 shares of the company’s stock worth $126,000 after buying an additional 2,680 shares during the period. Brighton Jones LLC raised its position in shares of West Marine by 30.3% in the second quarter. Brighton Jones LLC now owns 21,953 shares of the company’s stock worth $184,000 after buying an additional 5,107 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock worth $211,000 after buying an additional 10,600 shares during the period. Finally, BlackRock Inc. raised its position in shares of West Marine by 3,732.1% in the second quarter. BlackRock Inc. now owns 26,135 shares of the company’s stock worth $219,000 after buying an additional 25,453 shares during the period. 61.26% of the stock is owned by institutional investors.
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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