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West Marine Downgraded By B. Riley

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West Marine Inc (NASDAQ: WMAR), a specialty retailer of boating supplies, gear and other water life-related products, suffered a downgrade from Buy to Neutral by B. Riley analysts Tuesday.

Channel checks are indicating soft East Coast usage trends, according to the investment banker’s research. In addition to the downgrade, B. Riley reduced its forecasted increase in same-store sales for West Marine from 3.4 percent to 2 percent, and EPS estimates from $0.32 to $0.25.

West Marine’s price target was cut from $12 to $10, which still indicates B. Riley sees 14 percent upside from where shares traded at $8.75 just before Tuesday’s close.

Latest Ratings for WMAR

DateFirmActionFromTo
Oct 2016UpgradesNeutralBuy
Sep 2016DowngradesBuyNeutral
Jun 2016DowngradesBuyNeutral

View More Analyst Ratings for WMAR
View the Latest Analyst Ratings

Posted-In: B. RileyDowngrades Price Target Analyst Ratings

 

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