West Marine, Inc. (NASDAQ:WMAR)‘s stock had its “buy” rating reaffirmed by stock analysts at B. Riley in a note issued to investors on Tuesday. They presently have a $11.50 price objective on the stock. B. Riley’s price target suggests a potential upside of 25.55% from the stock’s previous close.
WMAR has been the subject of a number of other research reports. Forward View reiterated a “hold” rating and issued a $8.00 price objective on shares of West Marine in a research note on Thursday, October 27th. Zacks Investment Research cut West Marine from a “hold” rating to a “sell” rating in a research note on Wednesday, November 2nd.
Shares of West Marine (NASDAQ:WMAR) traded up 0.44% on Tuesday, hitting $9.16. The stock had a trading volume of 41,944 shares. The stock has a market cap of $229.01 million, a P/E ratio of 35.23 and a beta of 1.40. The firm has a 50 day moving average of $9.23 and a 200 day moving average of $9.25. West Marine has a 12 month low of $7.77 and a 12 month high of $11.42.
West Marine (NASDAQ:WMAR) last issued its quarterly earnings data on Thursday, February 23rd. The company reported ($0.39) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.06. West Marine had a return on equity of 1.73% and a net margin of 0.75%. The company earned $129.50 million during the quarter, compared to analysts’ expectations of $128.17 million. During the same quarter in the previous year, the business earned ($0.45) earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts forecast that West Marine will post $0.34 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Algert Global LLC purchased a new stake in shares of West Marine during the third quarter worth $101,000. Acrospire Investment Management LLC raised its position in West Marine by 85.3% in the third quarter. Acrospire Investment Management LLC now owns 14,620 shares of the company’s stock worth $121,000 after buying an additional 6,731 shares during the last quarter. Menta Capital LLC bought a new position in West Marine during the fourth quarter worth about $125,000. Paradigm Capital Management Inc. NY raised its position in West Marine by 33.3% in the third quarter. Paradigm Capital Management Inc. NY now owns 20,000 shares of the company’s stock worth $165,000 after buying an additional 5,000 shares during the last quarter. Finally, Brighton Jones LLC raised its position in 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 last quarter. Institutional investors own 61.79% of the company’s stock.
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.