Welbilt, Inc (WBT) Receives Average Rating of “Buy” from Analysts

Shares of Welbilt, Inc (NYSE:WBT) have earned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.86.

WBT has been the topic of several research analyst reports. Barclays reiterated a “buy” rating and issued a $19.00 target price on shares of Welbilt in a research report on Wednesday, February 20th. Robert W. Baird set a $18.00 target price on shares of Welbilt and gave the company a “buy” rating in a research report on Wednesday, February 20th. William Blair reiterated a “buy” rating on shares of Welbilt in a research report on Friday, January 11th. Longbow Research set a $16.00 target price on shares of Welbilt and gave the company a “buy” rating in a research report on Monday, January 14th. Finally, Zacks Investment Research upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th.

In other news, EVP Richard N. Caron sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $16.12, for a total value of $209,560.00. Following the transaction, the executive vice president now directly owns 53,525 shares of the company’s stock, valued at $862,823. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Haresh Shah sold 1,849 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $16.06, for a total transaction of $29,694.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,660 shares of company stock worth $477,120. Insiders own 0.37% of the company’s stock.

Large investors have recently bought and sold shares of the company. Cutler Group LP purchased a new position in shares of Welbilt in the fourth quarter worth about $55,000. Nisa Investment Advisors LLC lifted its stake in shares of Welbilt by 72.1% in 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 in the last quarter. Virtu Financial LLC purchased a new position in Welbilt during the fourth quarter worth about $190,000. Fox Run Management L.L.C. purchased a new position in Welbilt during the fourth quarter worth about $214,000. Finally, KBC Group NV raised its stake in Welbilt by 34.0% during the fourth quarter. KBC Group NV now owns 23,488 shares of the industrial products company’s stock worth $261,000 after purchasing an additional 5,956 shares during the period. 96.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE WBT traded up $0.40 during trading on Tuesday, hitting $16.01. The company had a trading volume of 971,700 shares, compared to its average volume of 1,390,572. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $23.85. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 20.53 and a beta of 1.81. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 7.09.

Welbilt (NYSE:WBT) last announced its earnings results on Tuesday, February 19th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Welbilt had a net margin of 4.76% and a return on equity of 71.21%. The business had revenue of $406.10 million for the quarter, compared to analyst estimates of $391.96 million. During the same quarter last year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Welbilt will post 0.79 EPS for the current fiscal year.

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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