Stock traders buy high volume call options on Weber (NYSE:WEBR)

Weber Inc. (NYSE:WEBR – Get Rating) was the target of unusually large options trades on Tuesday. Stock traders acquired 14,843 call options on the company. This represents a 71% increase from the typical volume of 8,662 call options.

Weber Institutional Trading

Several hedge funds and other institutional investors have recently bought and sold shares of WEBR. Tsfg LLC bought a new position in Weber stock during Q2 for a value of approximately $36,000. PNC Financial Services Group Inc. raised its position in Weber stock by 133.6% in Q1. PNC Financial Services Group Inc. now owns 3,787 shares of the company worth $37,000 after purchasing an additional 2,166 shares during the period. LPL Financial LLC purchased a new stake in Weber stock during Q2 worth approximately $78,000. Ridgewood Investments LLC acquired a new stake in Weber stock in the second quarter worth $85,000. Finally, Quantamental Technologies LLC acquired a new stake in Weber in the 2nd quarter at a value of $87,000. 13.24% of the shares are held by hedge funds and other institutional investors.

Weber stock performance

WEBR traded $1.72 during Tuesday’s trading, hitting $6.75. The stock recorded a trading volume of 252,443 shares, compared to an average volume of 827,160. The company has a market capitalization of $1.94 billion, a P/E ratio of -3.76, a PEG ratio of 38.11 and a beta of -0.27. The company’s 50-day moving average price is $7.01 and its 200-day moving average price is $7.60. Weber has a 12-month low of $4.82 and a 12-month high of $17.49.

Weber (NYSE:WEBR – Get Rating) last released quarterly earnings data on Monday, August 15. The company reported ($0.41) earnings per share for the quarter, missing analyst consensus estimates of ($0.07) by ($0.34). The company posted revenue of $527.94 million for the quarter, versus $530.17 million expected by analysts. Weber had a negative return on equity of 27.28% and a negative net margin of 5.08%. As a group, stock analysts expect Weber to post -0.35 earnings per share for the current fiscal year.

Analysts set new price targets

WEBR has been the subject of a number of research analyst reports. UBS Group lowered its price target on Weber to $3.00 in a Tuesday, September 6 report. BMO Capital Markets cut its price target on Weber from $7.00 to $6.00 and set a “market performance” rating for the company in a Tuesday, Aug. 16 research note. Wells Fargo & Company downgraded Weber from an “underweight” to an “equally weighted” rating and raised its price target for the company from $4.00 to $6.25 in a research note on Tuesday. . Bank of America downgraded Weber from a “neutral” to an “underperforming” rating and lowered its price target for the company from $9.00 to $5.00 in a Wednesday 3 research note. august. Finally, Citigroup downgraded Weber from a “neutral” rating to a “sell” rating and lowered its price target for the company from $7.00 to $2.75 in a Wednesday, Aug. 17 research note. . Three equity research analysts rated the stock with a sell rating and four gave the company a hold rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.79.

About Weber

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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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