Welbilt (NYSE:WBT) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share guidance of $0.73-0.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.88. Welbilt also updated its FY18 guidance to $0.73-0.81 EPS.
A number of research analysts have recently weighed in on the stock. Barclays set a $25.00 target price on shares of Welbilt and gave the company a buy rating in a research report on Monday, August 20th. Citigroup reduced their target price on shares of Welbilt from $24.00 to $23.00 and set a neutral rating for the company in a research report on Wednesday, August 15th. Zacks Investment Research raised shares of Welbilt from a hold rating to a buy rating and set a $26.00 target price for the company in a research report on Thursday, July 26th. KeyCorp reduced their target price on shares of Welbilt from $25.00 to $22.00 and set an overweight rating for the company in a research report on Tuesday. Finally, Wedbush cut their price objective on shares of Welbilt from $29.00 to $24.00 and set a buy rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $21.75.
WBT traded up $0.20 on Wednesday, hitting $14.20. The company’s stock had a trading volume of 599,057 shares, compared to its average volume of 1,190,511. The company has a market cap of $2.71 billion, a PE ratio of 18.44 and a beta of 1.23. Welbilt has a 12 month low of $13.40 and a 12 month high of $23.85. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 10.00.
In other Welbilt news, EVP Richard N. Caron sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total value of $196,920.00. Following the sale, the executive vice president now directly owns 100 shares in the company, valued at approximately $2,188. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.
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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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