JPMorgan Chase & Co. Trims Weight Watchers International (WTW) Target Price to $70.00

Weight Watchers International (NYSE:WTW) had its target price decreased by JPMorgan Chase & Co. from $120.00 to $70.00 in a research report sent to investors on Friday morning. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on WTW. KeyCorp dropped their price target on shares of Weight Watchers International from $115.00 to $90.00 and set an overweight rating for the company in a research note on Friday. ValuEngine downgraded shares of Weight Watchers International from a strong-buy rating to a buy rating in a research note on Wednesday, August 8th. Bank of America dropped their price target on shares of Weight Watchers International from $95.00 to $85.00 and set a buy rating for the company in a research note on Friday. B. Riley raised their price target on shares of Weight Watchers International from $103.00 to $113.00 and gave the company a buy rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Weight Watchers International from a strong-buy rating to a hold rating in a research note on Saturday, July 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $93.58.

Shares of Weight Watchers International stock opened at $48.13 on Friday. Weight Watchers International has a fifty-two week low of $41.15 and a fifty-two week high of $105.73.

Weight Watchers International (NYSE:WTW) last released its quarterly earnings results on Thursday, November 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The business had revenue of $365.80 million for the quarter, compared to the consensus estimate of $377.95 million. Weight Watchers International’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS.

In related news, major shareholder S.A. Westend sold 6,000,000 shares of Weight Watchers International stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $76.00, for a total transaction of $456,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Denis F. Kelly bought 4,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $71.59 per share, with a total value of $286,360.00. Following the purchase, the director now directly owns 42,334 shares of the company’s stock, valued at $3,030,691.06. The disclosure for this purchase can be found here. Insiders have sold 6,195,223 shares of company stock valued at $470,747,775 in the last three months. 12.31% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in WTW. Stratos Wealth Partners LTD. bought a new position in Weight Watchers International during the third quarter worth $135,000. Cerebellum GP LLC bought a new position in Weight Watchers International during the third quarter worth $137,000. First Hawaiian Bank bought a new position in Weight Watchers International during the third quarter worth $138,000. Bank of Montreal Can bought a new position in Weight Watchers International during the second quarter worth $174,000. Finally, Evanston Investments Inc. dba Evanston Advisors bought a new position in Weight Watchers International during the second quarter worth $202,000. 91.34% of the stock is owned by institutional investors and hedge funds.

Weight Watchers International Company Profile

Weight Watchers International, Inc provides weight management services worldwide. The company operates in four segments: North America, United Kingdom, Continental Europe, and Other. It offers a range of products and services comprising nutritional, activity, behavioral, and lifestyle tools and approaches.

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