Welbilt (NYSE:WBT) Rating Increased to Hold at ValuEngine

Welbilt (NYSE:WBT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and upped their target price for the company from $17.00 to $19.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.67.

Shares of NYSE WBT traded down $0.38 during mid-day trading on Thursday, hitting $16.04. The stock had a trading volume of 1,130,600 shares, compared to its average volume of 1,307,203. The company has a debt-to-equity ratio of 8.18, a quick ratio of 1.08 and a current ratio of 1.74. The stock’s 50 day moving average price is $16.25. Welbilt has a twelve month low of $10.66 and a twelve month high of $22.93. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 20.56 and a beta of 1.66.

Welbilt (NYSE:WBT) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). Welbilt had a net margin of 3.75% and a return on equity of 57.14%. The firm had revenue of $375.30 million during the quarter, compared to analyst estimates of $373.44 million. During the same period in the previous year, the company earned $0.15 earnings per share. Welbilt’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Welbilt will post 0.75 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in Welbilt during the 2nd quarter worth about $40,000. Huntington National Bank grew its position in Welbilt by 99.0% during the 1st quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 1,627 shares during the period. Quadrant Capital Group LLC grew its position in Welbilt by 2,938.8% during the 1st quarter. Quadrant Capital Group LLC now owns 3,920 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 3,791 shares during the period. Triangle Securities Wealth Management acquired a new stake in Welbilt during the 1st quarter worth about $895,000. Finally, CWM Advisors LLC acquired a new stake in Welbilt during the 2nd quarter worth about $176,000. 99.86% of the stock is currently owned by 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Welbilt (NYSE:WBT)

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