Short Interest in Weber Inc. (NYSE:WEBR) Expands By 27.3%

Weber Inc. (NYSE:WEBRGet Rating) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 9,830,000 shares, a growth of 27.3% from the May 15th total of 7,720,000 shares. Approximately 58.3% of the company’s stock are short sold. Based on an average daily volume of 499,100 shares, the short-interest ratio is currently 19.7 days.

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Weber from $13.00 to $9.00 in a research report on Tuesday, May 17th. JPMorgan Chase & Co. cut their price objective on Weber from $8.50 to $6.50 in a research report on Tuesday, May 17th. Citigroup dropped their target price on Weber from $12.00 to $8.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. The Goldman Sachs Group cut Weber from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Thursday, February 24th. Finally, Wells Fargo & Company cut their price target on Weber to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, May 17th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, Weber presently has a consensus rating of “Hold” and an average price target of $8.92.

In other news, insider Hans-Jurgen Herr sold 50,000 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $7.73, for a total value of $386,500.00. Following the completion of the transaction, the insider now owns 376,540 shares in the company, valued at approximately $2,910,654.20. The sale was disclosed in a filing with the SEC, which is available at this link. 0.36% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Weber in the third quarter worth $14,327,000. Citigroup Inc. acquired a new stake in Weber during the 3rd quarter valued at $34,000. Geode Capital Management LLC bought a new position in shares of Weber in the 3rd quarter worth about $4,420,000. The Manufacturers Life Insurance Company bought a new stake in shares of Weber during the 3rd quarter worth about $179,000. Finally, Morgan Stanley acquired a new position in shares of Weber in the 3rd quarter worth approximately $703,000. 13.54% of the stock is owned by institutional investors.

Shares of NYSE WEBR traded down $0.39 during mid-day trading on Thursday, reaching $7.16. The company had a trading volume of 23,277 shares, compared to its average volume of 497,392. Weber has a one year low of $5.72 and a one year high of $20.44. The business’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $10.18. The firm has a market cap of $2.06 billion and a price-to-earnings ratio of 0.23.

Weber (NYSE:WEBRGet Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.81). The firm had revenue of $607.30 million for the quarter, compared to analysts’ expectations of $659.06 million. Weber had a negative net margin of 3.38% and a negative return on equity of 27.28%. The firm’s revenue was down 7.2% on a year-over-year basis. Equities research analysts predict that Weber will post -0.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Tuesday, June 7th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, June 6th. Weber’s payout ratio is 0.51%.

Weber Company Profile (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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