Welbilt (NYSE:WBT) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Welbilt (NYSE:WBT) from a sell rating to a hold rating in a report issued on Tuesday, ValuEngine reports.

A number of other research analysts have also recently commented on WBT. Barclays reissued a buy rating and set a $20.00 target price on shares of Welbilt in a research report on Wednesday, October 16th. BMO Capital Markets assumed coverage on shares of Welbilt in a research note on Friday, October 18th. They issued a market perform rating and a $19.00 target price for the company. Zacks Investment Research lowered shares of Welbilt from a hold rating to a sell rating in a report on Saturday, November 9th. Finally, Buckingham Research downgraded shares of Welbilt from a buy rating to a neutral rating and dropped their price target for the stock from $24.00 to $17.00 in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Welbilt currently has an average rating of Hold and a consensus target price of $18.40.

NYSE WBT opened at $14.06 on Tuesday. Welbilt has a one year low of $14.02 and a one year high of $19.81. The company’s 50 day moving average price is $15.21 and its 200 day moving average price is $16.35. The company has a debt-to-equity ratio of 6.30, a quick ratio of 1.10 and a current ratio of 1.71. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 21.18 and a beta of 1.57.

Several large investors have recently added to or reduced their stakes in WBT. Champlain Investment Partners LLC boosted its holdings in Welbilt by 10.9% in the fourth quarter. Champlain Investment Partners LLC now owns 7,907,190 shares of the industrial products company’s stock valued at $123,431,000 after purchasing an additional 775,715 shares during the last quarter. Scopia Capital Management LP increased its holdings in Welbilt by 13.8% during the 3rd quarter. Scopia Capital Management LP now owns 6,559,589 shares of the industrial products company’s stock worth $110,595,000 after purchasing an additional 794,700 shares during the last quarter. Investec Asset Management LTD raised its position in shares of Welbilt by 145.5% in the 4th quarter. Investec Asset Management LTD now owns 5,127,825 shares of the industrial products company’s stock valued at $80,045,000 after purchasing an additional 3,038,737 shares in the last quarter. Earnest Partners LLC raised its position in shares of Welbilt by 5.2% in the 4th quarter. Earnest Partners LLC now owns 3,503,457 shares of the industrial products company’s stock valued at $54,689,000 after purchasing an additional 172,012 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Welbilt by 1.3% during the 4th quarter. State Street Corp now owns 2,736,011 shares of the industrial products company’s stock valued at $42,709,000 after buying an additional 35,738 shares during the last quarter. Institutional investors and hedge funds own 98.87% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Welbilt (NYSE:WBT)

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