Analysts Set Welbilt, Inc (NYSE:WBT) Price Target at $20.00

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.

Welbilt (NYSE:WBT) last issued its earnings results on Thursday, May 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. Welbilt had a net margin of 1.37% and a return on equity of 13.46%. The company had revenue of $316.80 million for the quarter, compared to analysts’ expectations of $287.77 million. During the same period in the prior year, the firm earned $0.01 EPS. Welbilt’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts anticipate that Welbilt will post 0.47 earnings per share for the current year.

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.

About Welbilt

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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