WBI (NYSE:WBI) Sets New 52-Week High - Time to Buy?

Key Points

• WBI shares hit a new 52-week high, reaching as high as $36.37 before closing near $35.50 on Wednesday, driven by recent bullish momentum.
• Several analysts have turned more positive on the stock, including multiple target price increases and upgrades, with MarketBeat showing a consensus rating of Moderate Buy.
• Despite the stock’s strength, insider selling has been substantial, including a major shareholder/director sale of 5.9 million shares and 19.4 million shares sold by insiders over the past 90 days.

WBI (NYSE:WBI - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $36.37 and last traded at $35.4970, with a volume of 18438 shares traded. The stock had previously closed at $34.77.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of WBI from a "sell" rating to a "hold" rating in a research note on Sunday. Barclays boosted their target price on WBI from $29.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. Morgan Stanley increased their target price on WBI from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. The Goldman Sachs Group raised their price target on WBI from $32.00 to $36.00 and gave the company a "buy" rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded WBI from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, WBI currently has a consensus rating of "Moderate Buy" and an average price target of $33.20.

WBI Stock Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.30 and a current ratio of 1.30. The company's fifty day moving average price is $30.89. The company has a market cap of $4.29 billion and a price-to-earnings ratio of 138.72.

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

WBI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. WBI's payout ratio is 80.00%.

Insider Transactions at WBI

In related news, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the firm's 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David N. Capobianco sold 5,894,826 shares of the firm's 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 completion of the transaction, the director directly owned 1,980,921 shares of the company's stock, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,439,652 shares of company stock worth $584,161,543. 50.61% of the stock is currently owned by insiders.

WBI Company Profile

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

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