Welbilt Inc (NYSE:WBT) – Equities research analysts at William Blair cut their FY2018 EPS estimates for shares of Welbilt in a research report issued to clients and investors on Monday. William Blair analyst L. De. Maria now expects that the industrial products company will post earnings of $0.88 per share for the year, down from their previous estimate of $0.95.
Several other equities research analysts have also issued reports on WBT. Seaport Global Securities reissued a “buy” rating on shares of Welbilt in a research report on Tuesday. Susquehanna Bancshares set a $24.00 price target on Welbilt and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research raised Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Saturday, January 13th. Finally, Barclays began coverage on Welbilt in a research report on Tuesday, December 12th. They set an “overweight” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Welbilt currently has a consensus rating of “Buy” and a consensus target price of $24.33.
Welbilt (NYSE:WBT) last released its earnings results on Monday, February 26th. The industrial products company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. The company had revenue of $365.90 million during the quarter, compared to analysts’ expectations of $382.51 million. Welbilt had a return on equity of 1,126.55% and a net margin of 9.27%. The business’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Three Peaks Capital Management LLC raised its position in Welbilt by 35.0% in the 4th quarter. Three Peaks Capital Management LLC now owns 263,556 shares of the industrial products company’s stock valued at $6,196,000 after purchasing an additional 68,270 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in Welbilt in the third quarter valued at approximately $1,111,000. Tygh Capital Management Inc. raised its holdings in Welbilt by 2.9% in the fourth quarter. Tygh Capital Management Inc. now owns 165,461 shares of the industrial products company’s stock valued at $3,890,000 after acquiring an additional 4,631 shares in the last quarter. Bessemer Group Inc. raised its holdings in Welbilt by 60.2% in the fourth quarter. Bessemer Group Inc. now owns 37,732 shares of the industrial products company’s stock valued at $887,000 after acquiring an additional 14,176 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in Welbilt in the fourth quarter valued at approximately $1,580,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Welbilt news, COO Josef Matosevic sold 1,681 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $21.79, for a total value of $36,628.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have sold 3,158 shares of company stock worth $69,900. Corporate insiders own 0.67% of the company’s stock.
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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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