Welbilt Inc (NYSE:WBT) had its target price raised by research analysts at Barclays PLC from $19.00 to $20.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays PLC’s target price indicates a potential upside of 1.27% from the stock’s current price.
WBT has been the topic of a number of other reports. Robert W. Baird upgraded shares of Welbilt from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $22.00 in a research note on Thursday, February 16th. Zacks Investment Research cut shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Tuesday, February 21st. Finally, Dougherty & Co cut shares of Welbilt from a “buy” rating to a “neutral” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Welbilt presently has an average rating of “Hold” and a consensus target price of $20.29.
Shares of Welbilt (NYSE:WBT) traded up 2.70% during mid-day trading on Wednesday, reaching $19.75. 478,204 shares of the company’s stock traded hands. The firm has a market capitalization of $2.74 billion and a price-to-earnings ratio of 34.65. The stock has a 50-day moving average price of $19.17 and a 200 day moving average price of $18.19. Welbilt has a 12-month low of $14.56 and a 12-month high of $19.91.
Welbilt (NYSE:WBT) last released its quarterly earnings data on Wednesday, February 15th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.01. Welbilt had a net margin of 8.38% and a return on equity of 57.49%. The business had revenue of $378.70 million for the quarter, compared to the consensus estimate of $391.70 million. The company’s revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Welbilt will post $0.73 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in Welbilt during the first quarter worth approximately $120,000. DnB Asset Management AS purchased a new stake in Welbilt during the first quarter worth approximately $4,205,000. Finally, Bank of Montreal Can purchased a new stake in Welbilt during the first quarter worth approximately $324,000. 82.50% of the stock is owned by institutional investors.
Welbilt Company Profile
Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.
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