Having dropped over 75% in one year, today
WW
found some relief as a bearish analysts backed down somewhat as JP Morgan upgraded its investment rating on Weight Watchers (to neutral from underweight and raised its price target on the stock to $22 from $17, sending the stock more than 7% higher.
"We believe that steps taken to redirect the marketing message to dieting have worked to stabilize recruitment trends," JPMorgan analysts wrote in a note to clients.
The health and wellness company saw its stock tumble nearly 30% on Feb. 26 after its fourth-quarter results and guidance fell short of Wall Street’s expectations, prompting downgrades from a slew of analysts. The stock had already been falling badly from a 52-week high of $96.47 reached in July 2018. It bottomed at $16.71 on May 31 and is 42% since.
Technically the stock is on the verge of a breakout and if successful there is a gap above with practically no price resistance offering up a 20% move for the bulls.
AVERAGE ANALYSTS PRICE TARGET $22
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/E RATIO 9.7
SHORT INTEREST 14%
COMPANY PROFILE
Weight Watchers International, Inc. engages in the provision of weight management services. It operates through the following geographical segments: North America, United Kingdom, Continental Europe and Other. The North America segment consists of United States and Canada Company-owned operations. The United Kingdom segment includes United Kingdom Company-owned operations. The Continental Europe segment comprises of Germany, Switzerland, France, Spain, Belgium, Netherlands, and Sweden Company-owned operations. The others segment offers Australia, New Zealand, Mexico, and Brazil Company-owned operations, as well as revenues and costs from franchises in the United States. The company was founded by Jean Nidetch in 1963 and is headquartered in New York, NY.
WW
found some relief as a bearish analysts backed down somewhat as JP Morgan upgraded its investment rating on Weight Watchers (to neutral from underweight and raised its price target on the stock to $22 from $17, sending the stock more than 7% higher. "We believe that steps taken to redirect the marketing message to dieting have worked to stabilize recruitment trends," JPMorgan analysts wrote in a note to clients.
The health and wellness company saw its stock tumble nearly 30% on Feb. 26 after its fourth-quarter results and guidance fell short of Wall Street’s expectations, prompting downgrades from a slew of analysts. The stock had already been falling badly from a 52-week high of $96.47 reached in July 2018. It bottomed at $16.71 on May 31 and is 42% since.
Technically the stock is on the verge of a breakout and if successful there is a gap above with practically no price resistance offering up a 20% move for the bulls.
AVERAGE ANALYSTS PRICE TARGET $22
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/E RATIO 9.7
SHORT INTEREST 14%
COMPANY PROFILE
Weight Watchers International, Inc. engages in the provision of weight management services. It operates through the following geographical segments: North America, United Kingdom, Continental Europe and Other. The North America segment consists of United States and Canada Company-owned operations. The United Kingdom segment includes United Kingdom Company-owned operations. The Continental Europe segment comprises of Germany, Switzerland, France, Spain, Belgium, Netherlands, and Sweden Company-owned operations. The others segment offers Australia, New Zealand, Mexico, and Brazil Company-owned operations, as well as revenues and costs from franchises in the United States. The company was founded by Jean Nidetch in 1963 and is headquartered in New York, NY.