Robert W. Baird Analysts Give Welbilt (WBT) a $18.00 Price Target

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Welbilt (NYSE:WBT) received a $18.00 target price from Robert W. Baird in a report issued on Wednesday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 12.01% from the company’s previous close.

Several other brokerages have also weighed in on WBT. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Barclays set a $19.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Wedbush dropped their target price on Welbilt from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. KeyCorp dropped their target price on Welbilt from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 6th. Finally, Citigroup lowered their price target on Welbilt from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.00.

NYSE WBT traded up $0.22 during trading hours on Wednesday, hitting $16.07. The company had a trading volume of 2,271,906 shares, compared to its average volume of 1,401,721. Welbilt has a fifty-two week low of $10.66 and a fifty-two week 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 firm has a market capitalization of $2.22 billion, a PE ratio of 20.87 and a beta of 1.74.

Welbilt (NYSE:WBT) last issued its earnings results on Tuesday, February 19th. The industrial products company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Welbilt had a return on equity of 88.66% and a net margin of 7.56%. The firm had revenue of $406.10 million for the quarter, compared to analyst estimates of $391.96 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts expect that Welbilt will post 0.78 earnings per share for the current fiscal year.

In other Welbilt news, VP Richard James Sheffer purchased 4,400 shares of the stock in a transaction dated Tuesday, November 27th. The shares were bought at an average cost of $13.71 per share, with a total value of $60,324.00. Following the completion of the acquisition, the vice president now owns 4,400 shares of the company’s stock, valued at $60,324. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Haresh Shah purchased 4,500 shares of the stock in a transaction dated Monday, November 26th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $63,180.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,500 shares of the company’s stock, valued at approximately $63,180. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 valued at $251,394,000 after buying an additional 102,013 shares in the last quarter. Vanguard Group Inc boosted 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 valued at $251,394,000 after buying an additional 102,013 shares in the last quarter. Impax Asset Management Group plc boosted its stake in Welbilt by 24.6% during the fourth quarter. Impax Asset Management Group plc now owns 7,383,832 shares of the industrial products company’s stock valued at $82,034,000 after buying an additional 1,459,895 shares in the last quarter. Gates Capital Management Inc. boosted its stake in Welbilt by 71.7% during the fourth quarter. Gates Capital Management Inc. now owns 7,305,875 shares of the industrial products company’s stock valued at $81,168,000 after buying an additional 3,050,151 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Welbilt by 54.0% during the third quarter. Brown Advisory Inc. now owns 6,336,185 shares of the industrial products company’s stock valued at $132,301,000 after buying an additional 2,222,105 shares in the last quarter. 91.88% of the stock is owned by institutional investors and hedge funds.

Welbilt Company Profile

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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