Weber Inc. (NYSE:WEBR – Get Rating) has been given an average rating of “Hold” by the eight brokerages that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.42.
Several equities research analysts have issued reports on WEBR shares. BMO Capital Markets lowered their price target on Weber from $16.00 to $13.00 in a report on Tuesday, February 15th. Citigroup decreased their price objective on Weber from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, February 15th. Wells Fargo & Company decreased their price objective on Weber from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. JPMorgan Chase & Co. downgraded Weber from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $9.50 in a report on Tuesday, February 15th. Finally, Zacks Investment Research downgraded Weber from a “buy” rating to a “hold” rating in a report on Wednesday.
Shares of Weber stock opened at $8.58 on Friday. Weber has a 1 year low of $8.50 and a 1 year high of $20.44. The business has a 50-day moving average of $10.15 and a two-hundred day moving average of $11.76.
In other Weber news, CEO Chris M. Scherzinger acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The stock was bought at an average cost of $9.96 per share, with a total value of $199,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan T. Congalton acquired 10,000 shares of the business’s stock in a transaction dated Thursday, February 17th. The stock was acquired at an average cost of $10.59 per share, with a total value of $105,900.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WEBR. BlackRock Inc. acquired a new stake in shares of Weber in the third quarter valued at approximately $14,327,000. Bank of America Corp DE lifted its position in shares of Weber by 707.8% in the fourth quarter. Bank of America Corp DE now owns 473,402 shares of the company’s stock valued at $6,121,000 after buying an additional 414,801 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of Weber during the third quarter worth approximately $4,420,000. Ghisallo Capital Management LLC bought a new position in shares of Weber during the third quarter worth approximately $2,814,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Weber during the third quarter worth approximately $2,639,000. 13.54% of the stock is owned by institutional investors.
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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