Shares of Welbilt, Inc (NYSE:WBT) reached a new 52-week low during trading on Thursday . The company traded as low as $12.61 and last traded at $13.07, with a volume of 46004 shares. The stock had previously closed at $13.01.
WBT has been the topic of a number of research analyst reports. Citigroup cut their target price on Welbilt from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 15th. Barclays set a $25.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Monday, August 20th. Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Robert W. Baird set a $19.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Monday, November 5th. Finally, KeyCorp lowered their price target on Welbilt from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Welbilt presently has a consensus rating of “Buy” and a consensus price target of $21.75.
The company has a debt-to-equity ratio of 8.23, a current ratio of 1.36 and a quick ratio of 0.74. The firm has a market capitalization of $1.82 billion, a PE ratio of 16.92 and a beta of 1.08.
Welbilt (NYSE:WBT) last released its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). Welbilt had a return on equity of 88.66% and a net margin of 7.56%. The company had revenue of $412.90 million for the quarter, compared to analysts’ expectations of $421.89 million. During the same period in the prior year, the business earned $0.22 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Welbilt, Inc will post 0.78 earnings per share for the current fiscal year.
In other Welbilt news, insider William Johnson acquired 29,962 shares of the stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $13.33 per share, with a total value of $399,393.46. Following the acquisition, the insider now owns 29,962 shares of the company’s stock, valued at $399,393.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard James Sheffer acquired 4,400 shares of the stock in a transaction on Tuesday, November 27th. The stock was acquired at an average cost of $13.71 per share, for a total transaction of $60,324.00. Following the acquisition, the vice president now directly owns 4,400 shares in the company, valued at approximately $60,324. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 38,862 shares of company stock worth $522,897. Corporate insiders own 0.37% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC purchased a new stake in Welbilt in the 2nd quarter valued at approximately $200,000. Fort L.P. purchased a new stake in Welbilt in the 2nd quarter valued at approximately $126,000. Diamond Hill Capital Management Inc. purchased a new stake in Welbilt in the 2nd quarter valued at approximately $210,000. Colony Group LLC purchased a new stake in Welbilt in the 2nd quarter valued at approximately $229,000. Finally, Quantum Capital Management purchased a new stake in Welbilt in the 2nd quarter valued at approximately $256,000. 92.24% of the stock is currently owned by institutional investors.
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Welbilt Company Profile (NYSE:WBT)
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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