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.
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.
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.
Recommended Story: What member countries make up the G-20?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Welbilt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welbilt and related companies with MarketBeat.com's FREE daily email newsletter.