Susquehanna Bancshares set a $24.00 price objective on Welbilt (NYSE:WBT) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the industrial products company’s stock.
WBT has been the subject of several other reports. Zacks Investment Research upgraded shares of Welbilt from a hold rating to a buy rating and set a $26.00 target price for the company in a research note on Saturday, January 13th. Barclays assumed coverage on shares of Welbilt in a research note on Tuesday, December 12th. They issued an overweight rating and a $25.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $24.33.
Shares of Welbilt (NYSE WBT) opened at $19.95 on Tuesday. Welbilt has a one year low of $18.38 and a one year high of $23.77. The stock has a market cap of $2,780.00 and a PE ratio of 31.67. The company has a quick ratio of 0.79, a current ratio of 1.35 and a debt-to-equity ratio of 29.38.
In other Welbilt news, COO Josef Matosevic sold 1,681 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $21.79, for a total value of $36,628.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 3,158 shares of company stock worth $69,900. Insiders own 0.67% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WBT. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Welbilt by 41.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,730 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 2,268 shares during the period. State of Alaska Department of Revenue bought a new position in Welbilt in the 4th quarter valued at about $218,000. Connable Office Inc. bought a new position in Welbilt in the 4th quarter valued at about $243,000. Raymond James Financial Services Advisors Inc. bought a new position in Welbilt in the 4th quarter valued at about $282,000. Finally, Water Island Capital LLC bought a new position in Welbilt in the 4th quarter valued at about $303,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
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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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