Welbilt (NYSE:WBT) had its price target cut by Citigroup from $24.00 to $23.00 in a research note published on Wednesday. They currently have a neutral rating on the industrial products company’s stock.
Several other research firms also recently issued reports on WBT. Zacks Investment Research downgraded shares of Welbilt from a buy rating to a hold rating in a research note on Saturday, July 7th. Buckingham Research started coverage on shares of Welbilt in a research note on Thursday, May 24th. They set a buy rating and a $24.00 price objective for the company. Longbow Research upgraded shares of Welbilt from a neutral rating to a buy rating in a research note on Wednesday, April 18th. Finally, CL King started coverage on shares of Welbilt in a research note on Thursday, June 28th. They set a neutral rating for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $24.14.
WBT opened at $21.50 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.61 and a debt-to-equity ratio of 9.67. Welbilt has a 52-week low of $18.34 and a 52-week high of $23.85. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.30 and a beta of 1.18.
Welbilt (NYSE:WBT) last released its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Welbilt had a net margin of 8.14% and a return on equity of 123.68%. The company had revenue of $420.70 million during the quarter, compared to the consensus estimate of $401.45 million. During the same period in the previous year, the firm earned $0.23 earnings per share. Welbilt’s revenue for the quarter was up 13.4% on a year-over-year basis. research analysts predict that Welbilt will post 0.89 earnings per share for the current fiscal year.
In other news, SVP Joel H. Horn sold 1,918 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $21.05, for a total transaction of $40,373.90. Following the transaction, the senior vice president now directly owns 2,375 shares of the company’s stock, valued at $49,993.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Welbilt during the second quarter worth $200,000. Fort L.P. acquired a new position in shares of Welbilt during the second quarter worth $126,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Welbilt during the second quarter worth $210,000. Thompson Investment Management Inc. acquired a new position in shares of Welbilt during the second quarter worth $217,000. Finally, Quantbot Technologies LP lifted its position in shares of Welbilt by 6,330.8% during the first quarter. Quantbot Technologies LP now owns 10,032 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 9,876 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.
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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