Weber (NYSE:WEBR) Shares Gap Down to $6.39

Weber Inc. (NYSE:WEBRGet Rating)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.39, but opened at $6.25. Weber shares last traded at $6.39, with a volume of 1,371 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WEBR shares. Wells Fargo & Company lowered shares of Weber from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $7.00 to $4.00 in a research note on Tuesday, July 26th. Bank of America lowered shares of Weber from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $9.00 to $5.00 in a research note on Wednesday, August 3rd. Citigroup lowered shares of Weber from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $7.00 to $2.75 in a research note on Wednesday, August 17th. UBS Group decreased their target price on shares of Weber to $3.00 in a research note on Tuesday, September 6th. Finally, BMO Capital Markets decreased their target price on shares of Weber from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 16th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $5.46.

Weber Trading Up 0.8 %

The company’s 50-day moving average price is $7.28 and its 200 day moving average price is $8.27.

Weber (NYSE:WEBRGet 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 firm had revenue of $527.94 million for the quarter, compared to analysts’ expectations of $530.17 million. Weber had a negative net margin of 5.08% and a negative return on equity of 27.28%. As a group, analysts forecast that Weber Inc. will post -1.87 earnings per share for the current year.

Institutional Trading of Weber

Several institutional investors have recently made changes to their positions in WEBR. Tsfg LLC acquired a new stake in Weber in the 2nd quarter valued at approximately $36,000. PNC Financial Services Group Inc. increased its holdings in Weber by 133.6% in 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 during the last quarter. LPL Financial LLC acquired a new stake in Weber in the 2nd quarter valued at approximately $78,000. Ridgewood Investments LLC acquired a new stake in Weber in the 2nd quarter valued at approximately $85,000. Finally, Quantamental Technologies LLC acquired a new stake in Weber in the 2nd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 13.24% of the company’s stock.

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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