West Marine Inc. (WMAR) Shares Up 5.3%
West Marine Inc. (NASDAQ:WMAR) shares shot up 5.3% on Monday . The company traded as high as $9.33 and last traded at $9.22, with a volume of 76,812 shares. The stock had previously closed at $8.76.
A number of research firms recently weighed in on WMAR. B. Riley lowered West Marine to a “neutral” rating and set a $10.00 target price on the stock. in a report on Sunday, June 26th. Zacks Investment Research lowered West Marine from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Forward View reaffirmed a “hold” rating on shares of West Marine in a report on Friday, July 22nd.
The stock has a market cap of $229.94 million and a PE ratio of 36.44. The company’s 50-day moving average price is $8.70 and its 200 day moving average price is $8.89.
West Marine (NASDAQ:WMAR) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.06. The business earned $251.60 million during the quarter, compared to analyst estimates of $254.39 million. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that West Marine Inc. will post $0.31 earnings per share for the current year.
An institutional investor recently raised its position in West Marine stock. Royce & Associates LLC boosted its position in shares of West Marine Inc. (NASDAQ:WMAR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,024,503 shares of the company’s stock after buying an additional 60,528 shares during the period. Royce & Associates LLC owned 8.20% of West Marine worth $17,188,000 at the end of the most recent reporting period.
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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