Robert W. Baird set a $19.00 price objective on Welbilt (NYSE:WBT) in a report released on Monday morning. The firm currently has a buy rating on the industrial products company’s stock.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Welbilt from a hold rating to a buy rating and set a $26.00 price target for the company in a research report on Thursday, July 26th. Citigroup decreased their price objective on shares of Welbilt from $24.00 to $23.00 and set a neutral rating for the company in a research report on Wednesday, August 15th. Finally, Barclays set a $25.00 price objective on shares of Welbilt and gave the company a buy rating in a research report on Monday, August 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $23.29.
Welbilt stock traded down $0.25 during trading on Monday, reaching $14.01. 832,512 shares of the company’s stock were exchanged, compared to its average volume of 1,190,511. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 10.00. Welbilt has a 52-week low of $13.89 and a 52-week high of $23.85. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 18.19 and a beta of 1.23.
Welbilt (NYSE:WBT) last announced its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Welbilt had a return on equity of 110.60% and a net margin of 8.14%. The business had revenue of $412.90 million for the quarter, compared to analysts’ expectations of $421.89 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Welbilt will post 0.87 earnings per share for the current year.
In related news, EVP Richard N. Caron sold 9,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the sale, the executive vice president now owns 100 shares in the company, valued at $2,188. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WBT. Select Equity Group L.P. raised its stake in Welbilt by 11.7% during the second quarter. Select Equity Group L.P. now owns 14,009,123 shares of the industrial products company’s stock worth $312,544,000 after acquiring an additional 1,470,878 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Welbilt in the third quarter valued at approximately $26,908,000. Brown Advisory Inc. increased its stake in shares of Welbilt by 45.5% in the second quarter. Brown Advisory Inc. now owns 4,114,080 shares of the industrial products company’s stock valued at $91,784,000 after purchasing an additional 1,287,240 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Welbilt in the second quarter valued at approximately $27,500,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Welbilt by 183.1% in the second quarter. Bank of New York Mellon Corp now owns 1,474,338 shares of the industrial products company’s stock valued at $32,893,000 after purchasing an additional 953,581 shares during the period. Hedge funds and other institutional investors own 90.87% of the company’s stock.
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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