WBI (NYSE:WBI) Shares Gap Down – Here’s Why

WBI (NYSE:WBI) shares gapped down prior to trading on Monday . The stock had previously closed at $33.19, but opened at $30.36. WBI shares last traded at $30.08, with a volume of 425,737 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WBI shares. Weiss Ratings upgraded shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Barclays increased their price objective on shares of WBI from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Morgan Stanley raised their price objective on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wells Fargo & Company upped their target price on WBI from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, UBS Group set a $33.00 price target on WBI in a research note on Monday, March 16th. Three 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.20.

WBI Stock Performance

The business’s fifty day moving average price is $29.26. The company has a market cap of $3.63 billion and a P/E ratio of 117.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.30 and a current ratio of 1.30.

WBI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, June 4th. WBI’s dividend payout ratio is presently 80.00%.

About WBI

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