Weber Inc. (NYSE:WEBR – Get Rating) shares fell 5.7% during mid-day trading on Tuesday after UBS Group lowered their price target on the stock to $3.00. The stock traded as low as $6.01 and last traded at $6.09. 6,832 shares traded hands during trading, a decline of 100% from the average session volume of 5,144,490 shares. The stock had previously closed at $6.46.
Several other equities analysts have also recently weighed in on WEBR. Citigroup cut Weber from a “neutral” rating to a “sell” rating and cut their price target for the company from $7.00 to $2.75 in a report on Wednesday, August 17th. Wells Fargo & Company cut Weber from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $7.00 to $4.00 in a report on Tuesday, July 26th. Bank of America cut Weber from a “neutral” rating to an “underperform” rating and cut their price target for the company from $9.00 to $5.00 in a report on Wednesday, August 3rd. JPMorgan Chase & Co. cut their price target on Weber from $8.50 to $6.50 in a report on Tuesday, May 17th. Finally, BMO Capital Markets cut their price target on Weber from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Tuesday, August 16th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $5.46.
Institutional Investors Weigh In On Weber
Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Weber by 133.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,787 shares of the company’s stock valued at $37,000 after purchasing an additional 2,166 shares in the last quarter. Tsfg LLC bought a new position in shares of Weber in the 2nd quarter worth $36,000. HighTower Trust Services LTA bought a new position in shares of Weber in the 2nd quarter worth $476,000. Meristem Family Wealth LLC bought a new position in shares of Weber in the 4th quarter worth $129,000. Finally, Point72 Hong Kong Ltd raised its position in shares of Weber by 99.1% in the 4th quarter. Point72 Hong Kong Ltd now owns 10,811 shares of the company’s stock worth $140,000 after acquiring an additional 5,382 shares in the last quarter. 13.24% of the stock is owned by institutional investors.
Weber Trading Down 5.9 %
The stock has a market capitalization of $1.75 billion and a P/E ratio of -3.50. The company has a 50-day moving average price of $7.77 and a 200 day moving average price of $8.74.
Weber (NYSE:WEBR – Get Rating) last released its quarterly earnings results on Monday, August 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.34). The company had revenue of $527.94 million during the quarter, compared to the consensus estimate of $530.17 million. Weber had a negative return on equity of 27.28% and a negative net margin of 5.08%. As a group, research analysts expect that Weber Inc. will post -1.87 earnings per share for the current year.
About Weber
Weber Inc, an outdoor cooking company, manufactures and distributes outdoor cooking products, accessories, consumables, and services in North America, Europe, Australia, and internationally. Its products include charcoal and gas grills, smokers, pellet and electric grills, and Weber Connect Smart Grilling Hub; and accessories, consumables, and services.