WBI (NYSE:WBI) Price Target Raised to $41.00

Key Points

• Goldman Sachs raised WBI’s price target from $36 to $41 and kept a buy rating, implying about 19.8% upside from the current share price.
• Other analysts also turned more positive: Morgan Stanley and Barclays lifted their targets, while Wall Street Zen and Weiss Ratings upgraded their views to hold. Overall, MarketBeat shows a Moderate Buy consensus with a $34.20 average target.
• WBI shares fell 4.6% to $34.24 even as the stock trades near its 52-week high, and recent insider activity included large share sales by major shareholders totaling more than $584 million over the last 90 days.

WBI (NYSE:WBI - Get Free Report) had its price target hoisted by investment analysts at The Goldman Sachs Group from $36.00 to $41.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 19.76% from the stock's current price.

A number of other equities research analysts have also weighed in on WBI. Morgan Stanley boosted their target price on shares of WBI from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of WBI from a "sell" rating to a "hold" rating in a report on Sunday. Barclays boosted their price objective on shares of WBI from $29.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Finally, Weiss Ratings raised WBI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, WBI presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.20.

WBI Trading Down 4.6%

WBI traded down $1.64 on Wednesday, reaching $34.24. The stock had a trading volume of 112,175 shares, compared to its average volume of 1,004,391. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $4.23 billion and a P/E ratio of 136.37. WBI has a fifty-two week low of $18.64 and a fifty-two week high of $36.37. The firm's 50-day moving average price is $30.89.

WBI (NYSE:WBI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.08 EPS for the quarter. The firm had revenue of $200.98 million for the quarter. Sell-side analysts anticipate that WBI will post 0.37 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the business'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 insider owned 1,980,921 shares in the company, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wbr Holdings Llc sold 5,894,826 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total transaction of $177,139,521.30. Following the sale, the insider directly owned 1,980,921 shares in the company, valued at $59,526,676.05. This trade represents a 74.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 19,439,652 shares of company stock valued at $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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