Todays Report: The West Marine Inc. (WMAR) Stock Rating Reaffirmed by Forward View

The West Marine Inc. (WMAR) Stock Rating Reaffirmed by Forward View

West Marine Inc. (NASDAQ:WMAR)‘s stock had its “hold” rating restated by research analysts at Forward View in a research report issued on Thursday. They currently have a $8.00 price target on the stock. Forward View’s price objective would indicate a potential upside of 1.27% from the stock’s current price.

Several other research firms also recently issued reports on WMAR. B. Riley upgraded West Marine to a “buy” rating and set a $10.00 price objective on the stock in a report on Sunday, October 9th. Zacks Investment Research downgraded West Marine from a “hold” rating to a “sell” rating in a report on Saturday, July 30th. Finally, Sidoti downgraded West Marine from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $9.30 to $9.00 in a report on Thursday, September 8th.

West Marine (NASDAQ:WMAR) opened at 7.90 on Thursday. The stock has a market cap of $197.07 million, a price-to-earnings ratio of 38.54 and a beta of 1.38. The company has a 50-day moving average of $8.56 and a 200 day moving average of $9.02. West Marine has a 12-month low of $7.70 and a 12-month high of $10.34.

West Marine (NASDAQ:WMAR) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by $0.02. West Marine had a return on equity of 1.75% and a net margin of 0.75%. The business earned $191.90 million during the quarter, compared to the consensus estimate of $191.18 million. During the same quarter last year, the firm posted $0.20 earnings per share. West Marine’s revenue was down 1.3% compared to the same quarter last year. Equities analysts anticipate that West Marine will post $0.23 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in WMAR. AXA boosted its position in West Marine by 118.6% in the first quarter. AXA now owns 26,910 shares of the company’s stock valued at $245,000 after buying an additional 14,600 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock valued at $211,000 after buying an additional 10,600 shares during the period. 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 valued at $2,856,000 after buying an additional 49,300 shares during the period. Chicago Equity Partners LLC acquired a new position in West Marine during the second quarter valued at $284,000. Finally, Bank of New York Mellon Corp boosted its position in West Marine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 118,295 shares of the company’s stock valued at $993,000 after buying an additional 1,654 shares during the period. 61.49% of the stock is currently owned by institutional investors.

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