WBI (NYSE:WBI) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of WBI (NYSE:WBI) crossed 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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WBI shares. Raymond James Financial reissued a “strong-buy” rating and set a $40.00 price target on shares of WBI in a research report on Tuesday, August 18th. The Goldman Sachs Group lifted their price objective on WBI from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Piper Sandler initiated coverage on shares of WBI in a research note on Monday, September 28th. They set an “overweight” rating and a $37.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on WBI in a research note on Tuesday, August 18th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of WBI from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $36.75.

WBI Stock Up 1.2%

The firm has a market cap of $3.79 billion and a P/E ratio of 383.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.54 and a quick ratio of 1.54. The company’s 50-day simple moving average is $30.46 and its 200 day simple moving average is $29.02.

WBI (NYSE:WBI) last announced its earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $217.77 million for the quarter. WBI had a return on equity of 0.85% and a net margin of 0.54%. Research analysts anticipate that WBI will post 0.48 EPS for the current fiscal year.

WBI Dividend Announcement

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

About WBI