WBI (NYSE:WBI) Price Target Raised to $41.00 at The Goldman Sachs Group

WBI (NYSE:WBI) had its price objective increased by research analysts at The Goldman Sachs Group from $36.00 to $41.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 19.76% from the company’s previous close.

Several other brokerages also recently commented on WBI. Morgan Stanley raised their target price on WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings raised WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Barclays boosted 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, WBI has an average rating of “Moderate Buy” and a consensus target price of $34.20.

WBI Price Performance

Shares of NYSE:WBI traded down $1.64 during mid-day trading on Wednesday, hitting $34.24. The company had a trading volume of 112,175 shares, compared to its average volume of 1,004,391. The company has a fifty day moving average of $30.89. The firm has a market capitalization of $4.23 billion and a P/E ratio of 136.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.30. WBI has a one year low of $18.64 and a one year high of $36.37.

WBI (NYSE:WBI) last released its earnings results on Wednesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $200.98 million for the quarter. Research analysts expect that WBI will post 0.37 earnings per share for the current fiscal year.

Insider Activity

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 value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Wbr Holdings Llc sold 5,894,826 shares of the firm’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 sale, the insider directly owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This 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 19,439,652 shares of company stock valued at $584,161,543 over the last quarter. 50.61% of the stock is owned by insiders.

About WBI

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