Welbilt, Inc (NYSE:WBT) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $19.67.
Several research firms have recently commented on WBT. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and upped their target price for the company from $17.00 to $19.00 in a report on Wednesday, July 10th. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.
Shares of NYSE:WBT traded up $0.53 during trading on Friday, hitting $17.04. 1,522,506 shares of the company traded hands, compared to its average volume of 1,125,768. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 23.37 and a beta of 1.67. The business’s fifty day moving average is $16.31 and its 200-day moving average is $16.30. Welbilt has a one year low of $10.66 and a one year high of $20.12. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 6.81.
In other Welbilt news, CEO William Johnson acquired 13,496 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average cost of $14.82 per share, with a total value of $200,010.72. Following the acquisition, the chief executive officer now directly owns 78,502 shares of the company’s stock, valued at approximately $1,163,399.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Welbilt by 4.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,927,004 shares of the industrial products company’s stock worth $199,180,000 after buying an additional 484,737 shares in the last quarter. BlackRock Inc. lifted its position in Welbilt by 56.8% in the second quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock worth $145,409,000 after purchasing an additional 3,152,913 shares during the period. Impax Asset Management Group plc lifted its position in Welbilt by 5.8% in the second quarter. Impax Asset Management Group plc now owns 8,529,334 shares of the industrial products company’s stock worth $142,440,000 after purchasing an additional 464,398 shares during the period. Nuveen Asset Management LLC acquired a new stake in Welbilt in the second quarter worth approximately $135,031,000. Finally, Champlain Investment Partners LLC lifted its position in Welbilt by 2.9% in the first quarter. Champlain Investment Partners LLC now owns 6,345,165 shares of the industrial products company’s stock worth $103,934,000 after purchasing an additional 177,290 shares during the period.
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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