Wells Fargo & Company Forecasts Strong Price Appreciation for WBI (NYSE:WBI) Stock

Key Points

• Wells Fargo raised WBI’s price target to $28 from $26 but maintained an “equal weight” rating, implying 11.4% downside from the stock’s $31.60 price.
• Analyst sentiment is generally positive: WBI has a “Moderate Buy” consensus rating and an average target price of $35.60, led by upgraded targets from Morgan Stanley, Goldman Sachs, and Barclays.
• WBI reported quarterly EPS of $0.10 on revenue of $217.77 million, while insiders sold 19.44 million shares worth approximately $584.2 million over the past 90 days.

WBI (NYSE:WBI - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $26.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective points to a potential downside of 11.40% from the company's current price.

A number of other analysts have also recently issued reports on the company. Morgan Stanley raised their price objective on WBI from $38.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday. Wall Street Zen raised WBI from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. The Goldman Sachs Group increased their price target on WBI from $36.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Barclays raised their price target on WBI from $29.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Finally, Weiss Ratings raised shares of 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 given a Hold rating to the company's stock. According to MarketBeat, WBI currently has an average rating of "Moderate Buy" and a consensus target price of $35.60.

WBI Stock Performance

Shares of WBI stock traded up $0.35 on Friday, reaching $31.60. The stock had a trading volume of 70,508 shares, compared to its average volume of 951,983. 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 firm's 50-day moving average is $32.55 and its two-hundred day moving average is $28.63. The firm has a market capitalization of $3.90 billion and a price-to-earnings ratio of 395.69. WBI has a 12 month low of $18.64 and a 12 month high of $36.89.

WBI (NYSE:WBI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.10 EPS for the quarter. The business had revenue of $217.77 million during the quarter. WBI had a return on equity of 0.84% and a net margin of 0.54%. On average, research analysts expect that WBI will post 0.46 EPS for the current fiscal year.

Insider Transactions at WBI

In other news, major shareholder Energy Corp/De Devon sold 1,755,174 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $52,742,978.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider owned 1,980,921 shares in the company, valued at $59,526,676.05. This trade represents a 74.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,439,652 shares of company stock worth $584,161,543 over the last ninety days. Corporate insiders own 50.61% of the company's stock.

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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