WBI (NYSE:WBI) Given New $43.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised WBI’s price target to $43 from $38 and maintained an “overweight” rating, implying approximately 33.4% upside from the stock’s $32.23 price.
• Analyst sentiment is broadly positive: WBI has an overall “Moderate Buy” rating and an average price target of $35.20, supported by three Buy ratings and two Hold ratings.
• Insiders sold approximately 19.4 million shares worth $584.2 million over the past 90 days, while WBI reported quarterly EPS of $0.10 on revenue of $217.8 million.

WBI (NYSE:WBI - Get Free Report) had its price objective lifted by research analysts at Morgan Stanley from $38.00 to $43.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 33.42% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Barclays upped their target price on shares of WBI from $29.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Weiss Ratings upgraded WBI from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 18th. The Goldman Sachs Group raised their price objective on WBI from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of WBI from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.20.

WBI Stock Down 0.2%

NYSE:WBI traded down $0.07 on Wednesday, hitting $32.23. The stock had a trading volume of 85,705 shares, compared to its average volume of 958,064. WBI has a 52 week low of $18.64 and a 52 week high of $36.89. The business's fifty day moving average is $32.50 and its 200 day moving average is $28.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.79. The company has a market cap of $3.98 billion and a PE ratio of 402.87.

WBI (NYSE:WBI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter. WBI had a net margin of 0.54% and a return on equity of 0.84%. The firm had revenue of $217.77 million for the quarter. On average, equities research analysts expect that WBI will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Energy Corp/De Devon sold 1,755,174 shares of WBI stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $52,742,978.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David N. Capobianco sold 5,894,826 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $177,139,521.30. Following the completion of the transaction, the director directly owned 1,980,921 shares of the company's stock, valued at $59,526,676.05. This represents a 74.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 19,439,652 shares of company stock worth $584,161,543. Company insiders own 50.61% of the company's stock.

About WBI

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

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