Interactive Buyside Community Issues BUY on WMAR with $17.00 Target

The following is an Interactive Buyside research thesis summary, published by our independent buyside analyst community. To access the below full research report for free, click here and unlockthe West Marine report.

Thesis Overview:

West Marine WMAR is an undervalued retailer.  The company is going through a change in focus from a bricks and mortar boat product retailer to a fully integrated retail and wholesale business through bricks and clicks, targeting the boating and water enthusiast customer.   Recent results have been affected by a severe rainy and cool spring which hurt boat usage and delayed the start of the season.  The company has accelerated cash investments to build larger more productive stores and expand its ecommerce abilities, consequently affecting free cash flow short term.  The stock lacks sponsorship as there is only one research report written on the company by a small boutique firm.  The stock trades at only book value despite the company being the leading industry player with a solid balance sheet and significant net cash position.