Welbilt, Inc (NYSE:WBT) Receives Average Recommendation of “Buy” from Brokerages

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.

Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $426.30 million during the quarter, compared to analyst estimates of $427.07 million. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 earnings per share. On average, analysts forecast that Welbilt will post 0.73 EPS for the current year.

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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Analyst Recommendations for Welbilt (NYSE:WBT)

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