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

Welbilt Inc (NYSE:WBT) has received a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.00.

WBT has been the subject of several recent research reports. Zacks Investment Research cut shares of Welbilt from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Longbow Research initiated coverage on shares of Welbilt in a report on Tuesday, October 10th. They set a “neutral” rating for the company. Citigroup increased their target price on shares of Welbilt from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and set a $25.00 price target on shares of Welbilt in a research report on Thursday, October 12th. Finally, Barclays initiated coverage on shares of Welbilt in a research report on Tuesday, December 12th. They set an “overweight” rating and a $25.00 price target on the stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of WBT. Capital Research Global Investors raised its position in Welbilt by 91.3% during the second quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock worth $56,550,000 after acquiring an additional 1,431,642 shares in the last quarter. Atlantic Trust Group LLC bought a new stake in Welbilt during the third quarter worth $1,111,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Welbilt during the first quarter worth $115,000. 91.10% of the stock is currently owned by hedge funds and other institutional investors.

Welbilt (NYSE WBT) opened at $22.91 on Friday. The firm has a market cap of $3,168.20, a P/E ratio of 35.80, a PEG ratio of 2.92 and a beta of 2.05. Welbilt has a 1-year low of $17.55 and a 1-year high of $23.46. The company has a quick ratio of 0.79, a current ratio of 1.35 and a debt-to-equity ratio of 29.38.

Welbilt (NYSE:WBT) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). Welbilt had a negative return on equity of 2,645.52% and a net margin of 6.14%. The business had revenue of $380.40 million for the quarter, compared to analyst estimates of $387.05 million. The business’s revenue for the quarter was down .9% compared to the same quarter last year. sell-side analysts expect that Welbilt will post 0.78 EPS for the current fiscal year.

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About Welbilt

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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