Investment analysts at CL King began coverage on shares of Welbilt (NYSE:WBT) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “neutral” rating on the industrial products company’s stock.
Several other analysts have also weighed in on WBT. Zacks Investment Research lowered Welbilt from a “hold” rating to a “sell” rating in a report on Saturday, March 3rd. Citigroup lowered their price objective on Welbilt from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, March 5th. Longbow Research raised Welbilt from a “neutral” rating to a “buy” rating in a report on Wednesday, April 18th. Finally, Buckingham Research initiated coverage on Welbilt in a report on Thursday, May 24th. They issued a “buy” rating and a $24.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $23.43.
Welbilt opened at $22.31 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 9.67, a quick ratio of 0.97 and a current ratio of 1.61. Welbilt has a one year low of $18.34 and a one year high of $23.77. The stock has a market capitalization of $3.10 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 2.50 and a beta of 1.32.
Welbilt (NYSE:WBT) last announced its quarterly earnings data on Monday, May 7th. The industrial products company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The firm had revenue of $350.40 million during the quarter, compared to analyst estimates of $329.86 million. Welbilt had a return on equity of 161.21% and a net margin of 9.64%. Welbilt’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. equities research analysts predict that Welbilt will post 0.89 earnings per share for the current year.
In related news, SVP Joel H. Horn sold 1,918 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $21.05, for a total value of $40,373.90. Following the completion of the sale, the senior vice president now directly owns 2,375 shares of the company’s stock, valued at $49,993.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP grew its holdings in shares of Welbilt by 6,330.8% during the first quarter. Quantbot Technologies LP now owns 10,032 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 9,876 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Welbilt during the first quarter valued at approximately $224,000. Jane Street Group LLC bought a new position in shares of Welbilt during the first quarter valued at approximately $247,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Welbilt during the fourth quarter valued at approximately $282,000. Finally, Quadrature Capital Ltd bought a new position in shares of Welbilt during the first quarter valued at approximately $289,000. 86.79% of the stock is owned by institutional investors.
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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