WBI (NYSE:WBI) Shares Gap Up - Still a Buy?

Key Points

• WBI shares gapped higher, opening at $34.28 versus the prior close of $32.72, before trading near $32.89 on relatively light volume.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $36.71; recent targets range from $38 to $43.
• WBI reported $0.10 in quarterly EPS on $217.77 million in revenue and announced a $0.05 quarterly dividend, while insiders have sold roughly $584.2 million of stock over the past 90 days.

WBI (NYSE:WBI - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $32.72, but opened at $34.28. WBI shares last traded at $32.8850, with a volume of 6,343 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on WBI from $36.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. initiated coverage on WBI in a report on Tuesday, August 18th. They issued an "overweight" rating and a $38.00 price objective on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $40.00 price objective on shares of WBI in a research report on Tuesday, August 18th. Morgan Stanley lifted their target price on shares of WBI from $38.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised shares of WBI from a "sell" rating to a "hold" rating in a research report on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, WBI presently has an average rating of "Moderate Buy" and an average target price of $36.71.

WBI Stock Performance

The company has a market cap of $4.03 billion and a P/E ratio of 408.69. The firm has a 50 day moving average price of $33.03 and a 200-day moving average price of $29.85. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.54 and a current ratio of 1.54.

WBI (NYSE:WBI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter. The business had revenue of $217.77 million for the quarter. WBI had a return on equity of 0.85% and a net margin of 0.54%. On average, research analysts predict that WBI will post 0.31 EPS for the current year.

WBI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 27th. WBI's dividend payout ratio is currently 250.00%.

Insider Activity

In related news, Director David Capobianco sold 5,894,826 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $177,139,521.30. Following the transaction, the director directly owned 1,980,921 shares in the company, valued at approximately $59,526,676.05. This trade represents a 74.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Energy Corp/De Devon sold 1,755,174 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total transaction of $52,742,978.70. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,439,652 shares of company stock valued at $584,161,543. 50.61% of the stock is owned by corporate insiders.

About WBI

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.

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