Barclays Analysts Give Welbilt (WBT) a $19.00 Price Target

Barclays set a $19.00 target price on Welbilt (NYSE:WBT) in a research report released on Tuesday. The firm currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also recently issued reports on WBT. Zacks Investment Research upgraded shares of Welbilt from a sell rating to a hold rating in a report on Thursday, October 18th. Robert W. Baird set a $19.00 price objective on shares of Welbilt and gave the stock a buy rating in a report on Monday. Wedbush decreased their price objective on shares of Welbilt from $29.00 to $24.00 and set a buy rating for the company in a report on Tuesday. KeyCorp decreased their price objective on shares of Welbilt from $25.00 to $22.00 and set an overweight rating for the company in a report on Tuesday. Finally, Citigroup decreased their price objective on shares of Welbilt from $23.00 to $16.00 and set a neutral rating for the company in a report on Tuesday. One 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. The stock has a consensus rating of Buy and a consensus price target of $21.75.

Shares of NYSE:WBT opened at $14.28 on Tuesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 18.62 and a beta of 1.23. Welbilt has a 1 year low of $13.40 and a 1 year high of $23.85. The company has a debt-to-equity ratio of 10.00, a current ratio of 1.41 and a quick ratio of 0.80.

Welbilt (NYSE:WBT) last issued its quarterly earnings data 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). The business had revenue of $412.90 million during the quarter, compared to the consensus estimate of $421.89 million. Welbilt had a return on equity of 95.12% and a net margin of 7.56%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. As a group, equities analysts anticipate that Welbilt will post 0.78 EPS for the current year.

In other Welbilt news, EVP Richard N. Caron sold 9,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the completion of the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $2,188. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Welbilt by 183.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,338 shares of the industrial products company’s stock worth $32,893,000 after acquiring an additional 953,581 shares during the last quarter. Bank of Montreal Can lifted its position in Welbilt by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 27,814 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 2,269 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Welbilt by 4.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 794,646 shares of the industrial products company’s stock worth $17,729,000 after acquiring an additional 34,751 shares during the last quarter. Marshall Wace LLP acquired a new position in Welbilt during the 2nd quarter worth $622,000. Finally, Victory Capital Management Inc. lifted its position in Welbilt by 18.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,097,464 shares of the industrial products company’s stock worth $46,795,000 after acquiring an additional 324,634 shares during the last quarter. 90.87% of the stock is owned by hedge funds and other institutional investors.

Welbilt Company Profile

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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Analyst Recommendations for Welbilt (NYSE:WBT)

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