Welbilt (WBT) Given a $19.00 Price Target at Barclays

Barclays set a $19.00 price objective on Welbilt (NYSE:WBT) in a research report sent to investors on Tuesday. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on WBT. Zacks Investment Research raised shares of Welbilt from a sell rating to a hold rating in a report on Thursday, October 18th. Robert W. Baird set a $19.00 price target on shares of Welbilt and gave the stock a buy rating in a research report on Monday, November 5th. Citigroup reduced their price target on shares of Welbilt from $23.00 to $16.00 and set a neutral rating on the stock in a research report on Tuesday. KeyCorp reduced their price target on shares of Welbilt from $25.00 to $22.00 and set an overweight rating on the stock in a research report on Tuesday. Finally, Wedbush reduced their price target on shares of Welbilt from $29.00 to $24.00 and set a buy rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $21.75.

WBT opened at $14.18 on Tuesday. The company has a debt-to-equity ratio of 10.00, a quick ratio of 0.80 and a current ratio of 1.41. Welbilt has a twelve month low of $13.40 and a twelve month high of $23.85. The stock has a market capitalization of $1.96 billion, a PE ratio of 18.42 and a beta of 1.23.

Welbilt (NYSE:WBT) last posted its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Welbilt had a return on equity of 95.12% and a net margin of 7.56%. The firm had revenue of $412.90 million during the quarter, compared to the consensus estimate of $421.89 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts expect that Welbilt will post 0.78 earnings per share for the current year.

In related news, EVP Richard N. Caron sold 9,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the transaction, the executive vice president now owns 100 shares in the company, valued at approximately $2,188. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Welbilt by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 27,814 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 2,269 shares during the period. US Bancorp DE lifted its position in Welbilt by 11.7% during the 2nd quarter. US Bancorp DE now owns 22,616 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 2,369 shares during the period. Amalgamated Bank lifted its position in Welbilt by 10.7% during the 2nd quarter. Amalgamated Bank now owns 30,386 shares of the industrial products company’s stock valued at $678,000 after purchasing an additional 2,925 shares during the period. Diversified Trust Co lifted its position in Welbilt by 18.7% during the 2nd quarter. Diversified Trust Co now owns 20,000 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 3,150 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its position in Welbilt by 20.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,169 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 90.87% of the company’s stock.

About Welbilt

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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