Barclays PLC Reiterates Equal Weight Rating for Welbilt Inc (WBT)

Welbilt Inc (NYSE:WBT)‘s stock had its “equal weight” rating restated by stock analysts at Barclays PLC in a note issued to investors on Wednesday. They currently have a $20.00 price target on the industrial products company’s stock, up from their previous price target of $19.00. Barclays PLC’s price objective would suggest a potential upside of 4.49% from the company’s current price.

WBT has been the topic of a number of other reports. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a report on Tuesday, January 24th. Dougherty & Co started coverage on Welbilt in a report on Thursday, February 2nd. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Robert W. Baird raised Welbilt from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $22.00 in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.29.

Analyst Recommendations for Welbilt (NYSE:WBT)

Welbilt (NYSE:WBT) traded up 0.47% during midday trading on Wednesday, hitting $19.23. The stock had a trading volume of 223,467 shares. Welbilt has a 12-month low of $14.56 and a 12-month high of $19.91. The company’s 50-day moving average price is $19.16 and its 200 day moving average price is $18.18. The stock has a market cap of $2.67 billion and a P/E ratio of 33.74.

Welbilt (NYSE:WBT) last released its quarterly earnings data on Wednesday, February 15th. The industrial products company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $378.70 million for the quarter, compared to analyst estimates of $391.70 million. Welbilt had a net margin of 8.38% and a return on equity of 57.49%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts predict that Welbilt will post $0.73 earnings per share for the current fiscal year.

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A hedge fund recently bought a new stake in Welbilt stock. Bank of Montreal Can acquired a new stake in shares of Welbilt Inc (NYSE:WBT) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,551 shares of the industrial products company’s stock, valued at approximately $324,000. 82.50% of the stock is owned by institutional investors and hedge funds.

About Welbilt

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

5 Day Chart for NYSE:WBT

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