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

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Welbilt (NYSE:WBT) received a $19.00 price target from analysts at Barclays in a report issued on Tuesday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Barclays’ target price suggests a potential upside of 35.71% from the stock’s previous close.

Several other research firms have also issued reports on WBT. Zacks Investment Research upgraded Welbilt from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Sunday, July 15th. Citigroup decreased their price objective on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 15th. Robert W. Baird set a $19.00 price objective on Welbilt and gave the company a “buy” rating in a research report on Monday. KeyCorp decreased their price objective on Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Wedbush decreased their price objective on Welbilt from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Welbilt has an average rating of “Buy” and a consensus target price of $21.75.

Welbilt stock opened at $14.00 on Tuesday. The stock has a market cap of $2.71 billion, a PE ratio of 18.18 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 posted its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). The company had revenue of $412.90 million for the quarter, compared to analyst estimates of $421.89 million. Welbilt had a return on equity of 110.60% and a net margin of 8.14%. Welbilt’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities analysts forecast that Welbilt will post 0.77 EPS for the current year.

In related news, EVP Richard N. Caron sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $21.88, for a total value of $196,920.00. Following the completion of the transaction, the executive vice president now directly owns 100 shares in the company, valued at approximately $2,188. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Select Equity Group L.P. lifted its stake in Welbilt by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 14,009,123 shares of the industrial products company’s stock valued at $312,544,000 after acquiring an additional 1,470,878 shares in the last quarter. BlackRock Inc. lifted its stake in Welbilt by 6.3% in the 2nd quarter. BlackRock Inc. now owns 5,686,526 shares of the industrial products company’s stock valued at $126,868,000 after acquiring an additional 336,654 shares in the last quarter. Brown Advisory Inc. lifted its stake in Welbilt by 45.5% in the 2nd quarter. Brown Advisory Inc. now owns 4,114,080 shares of the industrial products company’s stock valued at $91,784,000 after acquiring an additional 1,287,240 shares in the last quarter. Earnest Partners LLC lifted its stake in Welbilt by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 3,214,211 shares of the industrial products company’s stock valued at $71,709,000 after acquiring an additional 12,574 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its stake in Welbilt by 73.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 2,240,397 shares of the industrial products company’s stock valued at $50,017,000 after acquiring an additional 946,747 shares in the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

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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