Shares of Welbilt, Inc (NYSE:WBT) have earned an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.00.
A number of research analysts have issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Welbilt from $24.75 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. KeyCorp reiterated a “sector weight” rating on shares of Welbilt in a research report on Wednesday, April 28th. BMO Capital Markets increased their price target on shares of Welbilt from $17.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, May 10th. Citigroup increased their price target on shares of Welbilt from $13.00 to $19.00 in a research report on Thursday, March 11th. Finally, Zacks Investment Research upgraded shares of Welbilt from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, May 4th.
NYSE WBT traded down $0.02 on Thursday, reaching $24.31. The company had a trading volume of 2,047,904 shares, compared to its average volume of 2,731,839. The stock’s fifty day moving average price is $20.34. The company has a quick ratio of 1.36, a current ratio of 2.12 and a debt-to-equity ratio of 5.21. Welbilt has a 1-year low of $5.21 and a 1-year high of $25.19. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 221.00 and a beta of 2.47.
Several hedge funds have recently added to or reduced their stakes in WBT. Capital Asset Advisory Services LLC bought a new position in shares of Welbilt during the fourth quarter valued at $26,000. International Assets Investment Management LLC raised its stake in Welbilt by 224.4% during the first quarter. International Assets Investment Management LLC now owns 2,086 shares of the industrial products company’s stock worth $31,000 after buying an additional 1,443 shares during the last quarter. First Mercantile Trust Co. bought a new position in Welbilt during the fourth quarter worth $35,000. Arlington Partners LLC bought a new position in Welbilt during the first quarter worth $80,000. Finally, Nisa Investment Advisors LLC raised its stake in Welbilt by 44.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,850 shares of the industrial products company’s stock worth $90,000 after buying an additional 2,100 shares during the last quarter. 90.92% of the stock is owned by hedge funds and other institutional investors.
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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