Welbilt, Inc (WBT) Given Consensus Recommendation of “Buy” by Brokerages

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Welbilt, Inc (NYSE:WBT) has received an average recommendation of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.86.

Several research firms have issued reports on WBT. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Barclays reaffirmed a “buy” rating and issued a $19.00 price target on shares of Welbilt in a report on Wednesday, February 20th. Robert W. Baird set a $18.00 price target on Welbilt and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, William Blair reaffirmed a “buy” rating on shares of Welbilt in a report on Friday, January 11th.

In other Welbilt news, EVP Joel H. Horn sold 2,999 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total transaction of $48,163.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Haresh Shah sold 1,849 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total transaction of $29,694.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,760 shares of company stock worth $478,775. Company insiders own 0.37% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Huntington National Bank grew its holdings in shares of Welbilt by 99.0% during the 1st quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 1,627 shares in the last quarter. Cutler Group LP purchased a new position in shares of Welbilt during the 4th quarter valued at $55,000. Nisa Investment Advisors LLC grew its holdings in shares of Welbilt by 72.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 4,400 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Welbilt during the 4th quarter valued at $190,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Welbilt during the 4th quarter valued at $214,000. 96.53% of the stock is currently owned by institutional investors.

Shares of NYSE WBT traded up $0.01 during trading on Friday, hitting $17.21. The company had a trading volume of 972,498 shares, compared to its average volume of 1,263,295. The stock has a market capitalization of $2.42 billion, a P/E ratio of 22.06 and a beta of 1.81. Welbilt has a 52 week low of $10.66 and a 52 week high of $23.85. The company has a debt-to-equity ratio of 7.09, a quick ratio of 0.66 and a current ratio of 1.16.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Tuesday, February 19th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $406.10 million for the quarter, compared to analysts’ expectations of $391.96 million. Welbilt had a return on equity of 71.21% and a net margin of 4.76%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, research analysts forecast that Welbilt will post 0.78 earnings per share for the current year.

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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