Welbilt Target of Unusually High Options Trading (NYSE:WBT)

Welbilt, Inc (NYSE:WBT) was the target of some unusual options trading on Wednesday. Investors purchased 1,010 call options on the stock. This represents an increase of approximately 1,704% compared to the average daily volume of 56 call options.

Welbilt stock opened at $16.27 on Friday. The company’s 50 day moving average is $15.97. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 8.18. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $23.85. The company has a market capitalization of $2.26 billion, a P/E ratio of 20.86 and a beta of 1.67.

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

Several research analysts have issued reports on the company. Zacks Investment Research upgraded Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Saturday, April 27th. Citigroup upgraded Welbilt from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.00 to $19.00 in a research report on Wednesday. Finally, ValuEngine lowered Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.57.

Several institutional investors have recently bought and sold shares of WBT. Gates Capital Management Inc. raised its stake in shares of Welbilt by 71.7% during the fourth quarter. Gates Capital Management Inc. now owns 7,305,875 shares of the industrial products company’s stock valued at $81,168,000 after acquiring an additional 3,050,151 shares in the last quarter. FMR LLC raised its stake in shares of Welbilt by 279.6% during the first quarter. FMR LLC now owns 3,573,391 shares of the industrial products company’s stock valued at $58,533,000 after acquiring an additional 2,631,930 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in shares of Welbilt during the first quarter valued at approximately $24,915,000. Impax Asset Management Group plc raised its stake in shares of Welbilt by 24.6% during the fourth quarter. Impax Asset Management Group plc now owns 7,383,832 shares of the industrial products company’s stock valued at $82,034,000 after acquiring an additional 1,459,895 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Welbilt by 1,829.9% during the first quarter. JPMorgan Chase & Co. now owns 1,150,476 shares of the industrial products company’s stock valued at $18,845,000 after acquiring an additional 1,090,862 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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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