William Blair Reaffirms Buy Rating for Welbilt (WBT)

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William Blair reiterated their buy rating on shares of Welbilt (NYSE:WBT) in a report released on Friday. William Blair also issued estimates for Welbilt’s FY2019 earnings at $0.90 EPS.

Other research analysts have also issued reports about the company. Barclays set a $19.00 target price on Welbilt and gave the company a buy rating in a research note on Tuesday, November 6th. Wedbush cut their target price on Welbilt from $29.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, November 6th. Robert W. Baird set a $19.00 target price on Welbilt and gave the company a buy rating in a research note on Monday, November 5th. Zacks Investment Research upgraded Welbilt from a sell rating to a hold rating in a research note on Thursday, October 18th. Finally, Citigroup cut their target price on Welbilt from $23.00 to $16.00 and set a neutral rating for the company in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Welbilt has an average rating of Buy and a consensus target price of $21.75.

WBT opened at $12.39 on Friday. Welbilt has a 1-year low of $10.66 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 8.23, a current ratio of 1.36 and a quick ratio of 0.74. The company has a market capitalization of $1.79 billion, a PE ratio of 16.09 and a beta of 1.39.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $412.90 million during the quarter, compared to the consensus estimate of $421.89 million. Welbilt had a net margin of 7.56% and a return on equity of 88.66%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, sell-side analysts predict that Welbilt will post 0.78 EPS for the current year.

In other news, insider William Johnson bought 29,962 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was acquired at an average cost of $13.33 per share, for a total transaction of $399,393.46. Following the completion of the purchase, the insider now owns 29,962 shares of the company’s stock, valued at approximately $399,393.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard James Sheffer bought 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The stock was purchased at an average price of $13.71 per share, with a total value of $60,324.00. Following the completion of the purchase, the vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $60,324. The disclosure for this purchase can be found here. Insiders purchased 38,862 shares of company stock valued at $522,897 over the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co raised its stake in Welbilt by 5.5% during the third quarter. Diversified Trust Co now owns 21,100 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 1,100 shares in the last quarter. Vanguard Group Inc raised its stake in Welbilt by 0.9% during the third quarter. Vanguard Group Inc now owns 12,039,941 shares of the industrial products company’s stock worth $251,394,000 after acquiring an additional 102,013 shares in the last quarter. Federated Investors Inc. PA raised its stake in Welbilt by 22.4% during the third quarter. Federated Investors Inc. PA now owns 383,799 shares of the industrial products company’s stock worth $8,013,000 after acquiring an additional 70,355 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Welbilt during the third quarter worth $1,829,000. Finally, Vanguard Group Inc. raised its stake in Welbilt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,039,941 shares of the industrial products company’s stock worth $251,394,000 after acquiring an additional 102,013 shares in the last quarter. Hedge funds and other institutional investors own 92.18% 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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