Equities research analysts predict that West Marine, Inc. (NASDAQ:WMAR) will report $254.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for West Marine’s earnings. The highest sales estimate is $256.88 million and the lowest is $252.90 million. West Marine posted sales of $251.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The firm is expected to announce its next earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that West Marine will report full year sales of $254.89 million for the current fiscal year, with estimates ranging from $708.50 million to $711.44 million. For the next year, analysts forecast that the business will report sales of $724.85 million per share, with estimates ranging from $715.70 million to $734.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for West Marine.
A number of equities research analysts have recently issued reports on WMAR shares. B. Riley downgraded shares of West Marine from a “buy” rating to a “neutral” rating and set a $12.97 price objective for the company. in a research report on Tuesday, July 11th. BidaskClub raised shares of West Marine from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Forward View raised shares of West Marine from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of West Marine from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, TheStreet upgraded shares of West Marine from a “c+” rating to a “b” rating in a research note on Thursday, April 27th. Five analysts have rated the stock with a hold rating, West Marine currently has an average rating of “Hold” and an average target price of $9.99.
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Shares of West Marine (NASDAQ:WMAR) remained flat at $12.89 during midday trading on Friday. The company’s stock had a trading volume of 44,733 shares. The company has a 50-day moving average of $11.70 and a 200 day moving average of $10.21. West Marine has a 12-month low of $7.77 and a 12-month high of $13.01. The firm has a market cap of $325.85 million, a price-to-earnings ratio of 37.91 and a beta of 1.30.
A number of hedge funds have recently made changes to their positions in WMAR. Thomson Horstmann & Bryant Inc. bought a new stake in shares of West Marine during the second quarter valued at approximately $4,706,000. Renaissance Technologies LLC boosted 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 valued at $3,029,000 after buying an additional 174,501 shares during the last quarter. Kassirer Asset Management Corp bought a new stake in shares of West Marine during the second quarter valued at approximately $1,928,000. Signia Capital Management LLC boosted 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 valued at $2,908,000 after buying an additional 94,492 shares during the last quarter. Finally, Acadian Asset Management LLC boosted 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 valued at $893,000 after buying an additional 78,199 shares during the last quarter. Institutional investors and hedge funds own 61.17% 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.
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