West Marine Inc. (WMAR) Upgraded by B. Riley to “Buy”
West Marine Inc. (NASDAQ:WMAR) was upgraded by investment analysts at B. Riley from a “neutral” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $10.00 price target on the stock. B. Riley’s target price indicates a potential upside of 21.21% from the stock’s previous close.
A number of other research firms have also commented on WMAR. Zacks Investment Research upgraded West Marine from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Sidoti lowered West Marine from a “buy” rating to a “neutral” rating and reduced their price target for the company from $9.30 to $9.00 in a research report on Thursday, September 8th. Finally, Forward View reiterated a “hold” rating on shares of West Marine in a research report on Friday, July 22nd.
Shares of West Marine (NASDAQ:WMAR) remained flat at $8.25 during midday trading on Tuesday. 105,184 shares of the company were exchanged. The firm has a market capitalization of $205.75 million, a PE ratio of 32.61 and a beta of 1.38. The firm’s 50-day moving average is $8.99 and its 200 day moving average is $9.10. West Marine has a 52-week low of $7.70 and a 52-week high of $10.39.
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West Marine (NASDAQ:WMAR) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.06. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The company earned $251.60 million during the quarter, compared to the consensus estimate of $254.39 million. During the same quarter last year, the firm posted $0.85 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that West Marine will post $0.24 EPS for the current year.
Several large investors have recently made changes to their positions in WMAR. Dimensional Fund Advisors LP raised its stake in shares of West Marine by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,087,064 shares of the company’s stock valued at $17,510,000 after buying an additional 21,233 shares during the last quarter. Royce & Associates LLC raised its stake in shares of West Marine by 3.1% in the fourth quarter. Royce & Associates LLC now owns 2,024,503 shares of the company’s stock valued at $17,188,000 after buying an additional 60,528 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 valued at $6,813,000 after buying an additional 34,492 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of West Marine by 0.7% in the second quarter. Vanguard Group Inc. now owns 508,495 shares of the company’s stock valued at $4,266,000 after buying an additional 3,690 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of West Marine by 4.6% in the second quarter. BlackRock Fund Advisors now owns 475,900 shares of the company’s stock valued at $3,993,000 after buying an additional 20,861 shares during the last quarter. Institutional investors own 61.26% of the company’s stock.
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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