Welbilt Inc (WBT) Receives Consensus Recommendation of “Buy” from Brokerages

Welbilt Inc (NYSE:WBT) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.40.

A number of brokerages have recently weighed in on WBT. Barclays began coverage on shares of Welbilt in a research note on Tuesday, December 12th. They set an “overweight” rating and a $25.00 price objective for the company. Zacks Investment Research raised shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Saturday, January 13th.

Welbilt (WBT) opened at $20.75 on Monday. The company has a debt-to-equity ratio of 29.38, a quick ratio of 0.79 and a current ratio of 1.35. Welbilt has a 12 month low of $17.55 and a 12 month high of $23.77. The firm has a market cap of $2,893.50, a P/E ratio of 32.42, a PEG ratio of 2.20 and a beta of 0.91.

Institutional investors and hedge funds have recently modified their holdings of the company. Atlantic Trust Group LLC purchased a new position in shares of Welbilt during the 3rd quarter worth approximately $1,111,000. Franklin Parlapiano Turner & Welch LLC grew its stake in Welbilt by 103.0% in the 4th quarter. Franklin Parlapiano Turner & Welch LLC now owns 34,278 shares of the industrial products company’s stock worth $806,000 after acquiring an additional 17,391 shares during the period. Three Peaks Capital Management LLC grew its stake in Welbilt by 35.0% in the 4th quarter. Three Peaks Capital Management LLC now owns 263,556 shares of the industrial products company’s stock worth $6,196,000 after acquiring an additional 68,270 shares during the period. Tygh Capital Management Inc. grew its stake in Welbilt by 2.9% in the 4th quarter. Tygh Capital Management Inc. now owns 165,461 shares of the industrial products company’s stock worth $3,890,000 after acquiring an additional 4,631 shares during the period. Finally, Foundry Partners LLC purchased a new stake in Welbilt in the 4th quarter worth approximately $1,580,000. 91.33% 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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