Weber (NYSE:WEBR) Upgraded at Zacks Investment Research

Weber (NYSE:WEBRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “WEBER INC. is a barbecue brand. It offers a comprehensive, innovative product portfolio, including charcoal, gas, pellet and electric grills, smokers and accessories designed to help outdoor cooking enthusiasts. WEBER INC. is headquartered in Palatine, IL. “

WEBR has been the topic of several other research reports. The Goldman Sachs Group cut shares of Weber from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, February 24th. Citigroup decreased their price target on Weber from $12.00 to $8.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. BMO Capital Markets cut their price objective on Weber from $13.00 to $9.00 in a research note on Tuesday, May 17th. JPMorgan Chase & Co. reduced their target price on Weber from $8.50 to $6.50 in a report on Tuesday, May 17th. Finally, Wells Fargo & Company lowered their price target on shares of Weber to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, May 17th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.75.

WEBR traded down $0.02 on Thursday, reaching $7.87. The stock had a trading volume of 1,189 shares, compared to its average volume of 660,329. The company has a market capitalization of $2.26 billion and a price-to-earnings ratio of 0.25. Weber has a fifty-two week low of $5.72 and a fifty-two week high of $20.44. The firm has a 50-day moving average of $8.53 and a 200-day moving average of $10.42.

Weber (NYSE:WEBRGet Rating) last released its quarterly earnings data on Monday, May 16th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.20). Weber had a negative net margin of 3.38% and a negative return on equity of 27.28%. The firm had revenue of $607.30 million during the quarter, compared to analyst estimates of $659.06 million. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, analysts predict that Weber will post -0.4 EPS for the current fiscal year.

In related news, insider Hans-Jurgen Herr sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $7.73, for a total transaction of $386,500.00. Following the transaction, the insider now owns 376,540 shares in the company, valued at approximately $2,910,654.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of WEBR. Royal Bank of Canada lifted its holdings in shares of Weber by 1,621.5% in the 1st quarter. Royal Bank of Canada now owns 72,112 shares of the company’s stock worth $709,000 after purchasing an additional 67,923 shares in the last quarter. State Street Corp lifted its stake in shares of Weber by 13.2% in the first quarter. State Street Corp now owns 330,092 shares of the company’s stock valued at $3,245,000 after buying an additional 38,503 shares in the last quarter. UBS Group AG grew its holdings in shares of Weber by 174.5% during the first quarter. UBS Group AG now owns 145,086 shares of the company’s stock valued at $1,427,000 after buying an additional 92,229 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Weber by 16.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,983 shares of the company’s stock worth $531,000 after acquiring an additional 7,489 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Weber by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,742,566 shares of the company’s stock worth $17,129,000 after acquiring an additional 146,087 shares during the last quarter. 13.54% of the stock is owned by institutional investors and hedge funds.

About Weber (Get Rating)

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.

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