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

Shares of Welbilt, Inc (NYSE:WBT) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.60.

A number of equities analysts have weighed in on the stock. Buckingham Research downgraded shares of Welbilt from a “buy” rating to a “neutral” rating and decreased their target price for the company from $24.00 to $17.00 in a research note on Wednesday, December 11th. Zacks Investment Research cut shares of Welbilt from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. ValuEngine upgraded shares of Welbilt from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 8th. BMO Capital Markets assumed coverage on shares of Welbilt in a report on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price on the stock. Finally, Barclays restated a “buy” rating and issued a $20.00 target price on shares of Welbilt in a report on Wednesday, October 16th.

NYSE WBT traded up $0.06 during trading on Monday, hitting $15.51. 1,301,216 shares of the company’s stock traded hands, compared to its average volume of 824,085. The stock has a fifty day moving average of $15.87 and a two-hundred day moving average of $16.55. The company has a debt-to-equity ratio of 6.30, a current ratio of 1.71 and a quick ratio of 1.10. Welbilt has a 12-month low of $12.80 and a 12-month high of $19.81. The firm has a market cap of $2.18 billion, a P/E ratio of 23.06 and a beta of 1.56.

Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). Welbilt had a return on equity of 46.20% and a net margin of 3.82%. The firm had revenue of $410.50 million for the quarter, compared to analysts’ expectations of $423.03 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts expect that Welbilt will post 0.69 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Welbilt by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,927,004 shares of the industrial products company’s stock worth $199,180,000 after acquiring an additional 484,737 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Welbilt by 56.8% during the 2nd quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock worth $145,409,000 after acquiring an additional 3,152,913 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Welbilt during the 2nd quarter worth $135,031,000. Scopia Capital Management LP boosted its stake in shares of 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 acquiring an additional 794,700 shares during the last quarter. Finally, Intermede Investment Partners Ltd boosted its stake in shares of Welbilt by 13.1% during the 3rd quarter. Intermede Investment Partners Ltd now owns 2,179,264 shares of the industrial products company’s stock worth $36,742,000 after acquiring an additional 252,587 shares during the last quarter. Institutional investors and hedge funds own 99.94% of the company’s stock.

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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