WBI (NYSE:WBI) Receives "Overweight" Rating from JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its “overweight” rating on WBI and set a $38 price target, implying 19.65% upside from the prior close.
• Analyst sentiment is broadly positive: WBI has a consensus “Moderate Buy” rating and a $36 average price target, with Goldman Sachs and Morgan Stanley recently raising their targets.
• WBI reported quarterly EPS of $0.10 on $217.77 million in revenue, while insiders sold 19.4 million shares worth approximately $584.2 million over the past quarter.

WBI (NYSE:WBI - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at JPMorgan Chase & Co. in a report issued on Tuesday,Benzinga reports. They presently have a $38.00 target price on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 19.65% from the company's previous close.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of WBI from $36.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Wall Street Zen downgraded shares of WBI from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings upgraded shares of WBI from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Barclays upped their price target on shares of WBI from $29.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Finally, Morgan Stanley raised their price objective on shares of WBI from $38.00 to $43.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

WBI Trading Up 0.1%

WBI stock opened at $31.76 on Tuesday. WBI has a 52 week low of $18.64 and a 52 week high of $36.89. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $3.92 billion and a P/E ratio of 397.00. The stock has a 50-day simple moving average of $32.63 and a 200 day simple moving average of $28.77.

WBI (NYSE:WBI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter. WBI had a return on equity of 0.85% and a net margin of 0.54%.The company had revenue of $217.77 million during the quarter. Analysts expect that WBI will post 0.46 earnings per share for the current year.

Insider Activity

In related news, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of WBI stock in a transaction that occurred 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 directly owned 1,980,921 shares of the company's stock, valued at $59,526,676.05. This trade represents a 74.85% decrease in their ownership of the stock. The sale was disclosed in a legal 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 value of $52,742,978.70. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,439,652 shares of company stock valued at $584,161,543 over the last quarter. 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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