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.
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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