Shares of WW, formerly known as Weight Watchers International Inc., were close to suffering their worst day since going public more than 18 years ago, as a number of analysts soured on the company following a dismal earnings report and outlook.
Shares of WW, formerly known as Weight Watchers International Inc., were on the verge Wednesday of suffering their worst day since going public more than 18 years ago, as a number of analysts soured on the company following a dismal earnings report and outlook.
No less than six of the 15 analysts surveyed by FactSet have downgraded WW shares, and seven have slashed their price targets, with the average target now 61% below what it was at the end of January. The selloff might seem like déjà vu for some long-term investors, as it comes on the fourth-anniversary of what is currently the worst one-day performance since the stock went public about 18 years ago.
The stock got a further boost in April 2017 after it named Mindy Grossman as its new CEO, who had spent the previous nine years as CEO of HSN Inc.
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