WBI (NYSE:WBI) Stock Breaks Above Fifty Day Moving Average – Here’s Why

WBI (NYSE:WBI) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $30.46 and traded as high as $31.26. WBI shares last traded at $30.71, with a volume of 530,087 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on WBI. Wells Fargo & Company upped their target price on shares of WBI from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of WBI from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Piper Sandler initiated coverage on shares of WBI in a research report on Monday, September 28th. They issued an “overweight” rating and a $37.00 price target for the company. Raymond James Financial restated a “strong-buy” rating and issued a $40.00 price target on shares of WBI in a research note on Tuesday, August 18th. Finally, Weiss Ratings raised WBI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $36.75.

WBI Stock Up 1.2%

The business has a 50-day simple moving average of $30.46 and a 200-day simple moving average of $29.02. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market cap of $3.79 billion and a price-to-earnings ratio of 383.88.

WBI (NYSE:WBI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 EPS for the quarter. WBI had a return on equity of 0.85% and a net margin of 0.54%. The business had revenue of $217.77 million during the quarter. On average, equities analysts anticipate that WBI will post 0.39 earnings per share for the current fiscal year.

WBI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.20 annualized dividend and a yield of 0.7%. WBI’s dividend payout ratio (DPR) is 250.00%.

WBI Company Profile