WBI (NYSE:WBI) Reaches New 12-Month High – Should You Buy?

Shares of WBI (NYSE:WBI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.51 and last traded at $36.23, with a volume of 22632 shares. The stock had previously closed at $35.48.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen raised WBI from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Morgan Stanley lifted their price target on WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. The Goldman Sachs Group increased 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, Barclays raised their price objective on WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, WBI currently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

WBI Stock Performance

The firm has a market capitalization of $4.50 billion and a P/E ratio of 146.26. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $31.53.

WBI (NYSE:WBI) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.08 EPS for the quarter. The business had revenue of $200.98 million during the quarter. On average, analysts predict that WBI will post 0.3 EPS for the current year.

WBI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a $0.05 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. WBI’s dividend payout ratio is 80.00%.

Insider Buying and Selling

In other WBI news, major shareholder Waterbridge Resources Llc sold 5,894,826 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 transaction of $177,139,521.30. Following the transaction, the insider owned 1,980,921 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, major shareholder Energy Corp/De Devon sold 1,755,174 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 value of $52,742,978.70. The SEC filing for this sale provides additional information. Insiders sold a total of 19,439,652 shares of company stock worth $584,161,543 in the last three months. Company 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.