West Marine, Inc. (NASDAQ:WMAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of West Marine from a “c+” rating to a “b” rating in a report on Thursday, April 27th. B. Riley reaffirmed a “buy” rating and issued a $12.00 target price on shares of West Marine in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.75.

West Marine (NASDAQ WMAR) traded up 0.72% during trading on Wednesday, reaching $9.74. 9,804 shares of the company’s stock were exchanged. West Marine has a 52 week low of $7.77 and a 52 week high of $11.72. The company’s 50 day moving average price is $10.10 and its 200-day moving average price is $9.79. The stock has a market capitalization of $245.13 million, a price-to-earnings ratio of 29.07 and a beta of 1.40.

West Marine (NASDAQ:WMAR) last posted its earnings results on Wednesday, April 26th. The specialty retailer reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.07. West Marine had a net margin of 1.19% and a return on equity of 2.70%. The business had revenue of $129.10 million for the quarter, compared to analyst estimates of $130.88 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that West Marine will post $0.37 EPS for the current year.

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A number of large investors have recently modified their holdings of WMAR. Numeric Investors LLC bought a new stake in shares of West Marine during the fourth quarter worth approximately $5,141,000. Renaissance Technologies LLC raised its stake in shares of West Marine by 152.0% in the fourth quarter. Renaissance Technologies LLC now owns 289,301 shares of the specialty retailer’s stock worth $3,029,000 after buying an additional 174,501 shares in the last quarter. Signia Capital Management LLC raised its stake in shares of West Marine by 44.9% in the first quarter. Signia Capital Management LLC now owns 304,826 shares of the specialty retailer’s stock worth $2,908,000 after buying an additional 94,492 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of West Marine by 507.6% in the first quarter. Acadian Asset Management LLC now owns 93,605 shares of the specialty retailer’s stock worth $893,000 after buying an additional 78,199 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of West Marine by 11.6% in the first quarter. Vanguard Group Inc. now owns 616,623 shares of the specialty retailer’s stock worth $5,883,000 after buying an additional 63,870 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other 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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