Zacks Investment Research upgraded shares of West Marine Inc. (NASDAQ:WMAR) from a sell rating to a hold rating in a research report report published on Tuesday morning.

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. “

WMAR has been the topic of a number of other reports. B. Riley downgraded shares of West Marine from a buy rating to a neutral rating and lowered their price objective for the company from $12.00 to $10.00 in a report on Tuesday, June 21st. Forward View reiterated a hold rating on shares of West Marine in a report on Friday, July 22nd. Finally, Sidoti cut shares of West Marine from a buy rating to a neutral rating and decreased their target price for the company from $9.30 to $9.00 in a research note on Thursday, September 8th.

West Marine (NASDAQ:WMAR) traded up 1.35% during mid-day trading on Tuesday, hitting $8.25. 6,014 shares of the company were exchanged. The company has a 50 day moving average of $9.11 and a 200 day moving average of $9.11. The stock has a market cap of $205.75 million, a P/E ratio of 32.61 and a beta of 1.38. West Marine has a 12-month low of $7.70 and a 12-month high of $10.39.

West Marine (NASDAQ:WMAR) last posted its quarterly earnings data 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. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The business earned $251.60 million during the quarter, compared to analyst estimates of $254.39 million. During the same quarter last year, the business earned $0.85 earnings per share. West Marine’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts expect that West Marine will post $0.24 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Prudential Financial Inc. acquired a new stake in shares of West Marine during the second quarter worth about $126,000. BlackRock Advisors LLC boosted its stake in shares of West Marine by 21.8% in the second quarter. BlackRock Advisors LLC now owns 14,966 shares of the company’s stock worth $126,000 after buying an additional 2,680 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of 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. Jacobs Levy Equity Management Inc. boosted its stake in shares of West Marine by 84.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 23,200 shares of the company’s stock worth $211,000 after buying an additional 10,600 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of West Marine by 3,732.1% in the second quarter. BlackRock Inc. now owns 26,135 shares of the company’s stock worth $219,000 after buying an additional 25,453 shares during the last quarter. 61.26% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:WMAR

Receive News & Stock Ratings for West Marine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Marine Inc. and related stocks with our FREE daily email newsletter.