Welbilt Inc (WBT) Receives Average Rating of “Buy” from Analysts

Shares of Welbilt Inc (NYSE:WBT) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $24.40.

A number of equities analysts have recently weighed in on WBT shares. Zacks Investment Research raised Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Saturday, January 13th. KeyCorp reissued a “buy” rating and issued a $25.00 price target on shares of Welbilt in a report on Thursday, October 12th. Citigroup boosted their price target on Welbilt from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Longbow Research started coverage on Welbilt in a report on Tuesday, October 10th. They issued a “neutral” rating for the company. Finally, Barclays started coverage on Welbilt in a report on Tuesday, December 12th. They issued an “overweight” rating and a $25.00 price target for the company.

Welbilt (NYSE:WBT) opened at $22.94 on Thursday. Welbilt has a 1-year low of $17.55 and a 1-year high of $23.77. The firm has a market capitalization of $3,225.38, a price-to-earnings ratio of 35.84, a PEG ratio of 2.46 and a beta of 2.03. The company has a debt-to-equity ratio of 29.38, a current ratio of 1.35 and a quick ratio of 0.79.

Welbilt (NYSE:WBT) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). Welbilt had a negative return on equity of 2,645.52% and a net margin of 6.14%. The company had revenue of $380.40 million during the quarter, compared to analyst estimates of $387.05 million. Welbilt’s revenue for the quarter was down .9% compared to the same quarter last year. equities research analysts anticipate that Welbilt will post 0.78 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of Welbilt by 91.3% in the second quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $56,550,000 after purchasing an additional 1,431,642 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Welbilt by 18.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 627,205 shares of the industrial products company’s stock valued at $14,746,000 after purchasing an additional 97,429 shares during the period. Atlantic Trust Group LLC purchased a new stake in shares of Welbilt in the third quarter valued at $1,111,000. Bank of Montreal Can grew its position in shares of Welbilt by 22.6% in the fourth quarter. Bank of Montreal Can now owns 19,946 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 3,673 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Welbilt by 163.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,100 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 10,000 shares during the period. 91.10% of the stock is owned by institutional investors and hedge funds.

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About Welbilt

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.

Analyst Recommendations for Welbilt (NYSE:WBT)

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