Welbilt, Inc (WBT) Given Average Rating of “Buy” by Analysts

Shares of Welbilt, Inc (NYSE:WBT) have been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.86.

Several equities analysts recently commented on WBT shares. Barclays reissued a “buy” rating and issued a $19.00 price objective on shares of Welbilt in a research note on Wednesday, February 20th. Robert W. Baird set a $18.00 price objective on shares of Welbilt and gave the company a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research raised shares of Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, ValuEngine raised shares of Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th.

In other news, CFO Haresh Shah sold 1,849 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total transaction of $29,694.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard N. Caron sold 13,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $16.12, for a total transaction of $209,560.00. Following the transaction, the executive vice president now directly owns 53,525 shares of the company’s stock, valued at approximately $862,823. The disclosure for this sale can be found here. Insiders have sold 29,760 shares of company stock valued at $478,775 in the last ninety days. Insiders own 0.37% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of Welbilt by 99.0% during the first quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock worth $54,000 after buying an additional 1,627 shares during the period. Cutler Group LP acquired a new stake in shares of Welbilt during the fourth quarter worth $55,000. Quadrant Capital Group LLC increased its position in shares of Welbilt by 2,938.8% during the first quarter. Quadrant Capital Group LLC now owns 3,920 shares of the industrial products company’s stock worth $63,000 after buying an additional 3,791 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Welbilt by 72.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock worth $117,000 after buying an additional 4,400 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Welbilt during the first quarter worth $153,000. 95.42% of the stock is owned by hedge funds and other institutional investors.

NYSE:WBT traded up $0.61 on Wednesday, hitting $16.79. The company had a trading volume of 1,401,400 shares, compared to its average volume of 1,282,873. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 21.53 and a beta of 1.78. The company has a debt-to-equity ratio of 8.18, a current ratio of 1.74 and a quick ratio of 1.08. Welbilt has a 52 week low of $10.66 and a 52 week high of $23.85.

Welbilt (NYSE:WBT) last issued its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The company had revenue of $375.30 million during the quarter, compared to the consensus estimate of $373.44 million. Welbilt had a net margin of 3.75% and a return on equity of 57.14%. Welbilt’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. As a group, analysts expect that Welbilt will post 0.75 EPS for the current year.

Welbilt Company Profile

Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.

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Analyst Recommendations for Welbilt (NYSE:WBT)

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