Welbilt (NYSE:WBT) had its price target decreased by KeyCorp from $25.00 to $22.00 in a research report released on Tuesday. KeyCorp currently has an overweight rating on the industrial products company’s stock. KeyCorp also issued estimates for Welbilt’s Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.78 EPS and FY2019 earnings at $0.90 EPS.

WBT has been the subject of a number of other reports. Barclays set a $25.00 price objective on shares of Welbilt and gave the company a buy rating in a research report on Monday, August 20th. Citigroup cut their price objective on shares of Welbilt from $24.00 to $23.00 and set a neutral rating for the company in a research report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Welbilt from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Thursday, July 26th. Finally, Robert W. Baird set a $19.00 price objective on shares of Welbilt and gave the company a buy rating in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $21.75.

WBT stock opened at $14.18 on Tuesday. 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 has a 12 month low of $13.40 and a 12 month high of $23.85. The company has a market capitalization of $2.05 billion, a PE ratio of 17.00 and a beta of 1.23.

Welbilt (NYSE:WBT) last released its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). Welbilt had a net margin of 7.56% and a return on equity of 95.12%. The firm had revenue of $412.90 million during the quarter, compared to the consensus estimate of $421.89 million. During the same quarter last year, the business posted $0.22 earnings per share. Welbilt’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that Welbilt will post 0.78 EPS for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Broadview Advisors LLC raised its stake in Welbilt by 1.4% in the third quarter. Broadview Advisors LLC now owns 548,102 shares of the industrial products company’s stock valued at $11,444,000 after purchasing an additional 7,450 shares in the last quarter. Sarasin & Partners LLP purchased a new stake in Welbilt in the third quarter valued at approximately $6,695,000. FMR LLC purchased a new stake in Welbilt in the third quarter valued at approximately $15,827,000. Bank of New York Mellon Corp raised its stake in Welbilt by 6.3% in the third quarter. Bank of New York Mellon Corp now owns 1,567,601 shares of the industrial products company’s stock valued at $32,731,000 after purchasing an additional 93,263 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in Welbilt by 83.1% in the third quarter. Artemis Investment Management LLP now owns 740,437 shares of the industrial products company’s stock valued at $15,464,000 after purchasing an additional 336,156 shares in the last quarter. 90.87% of the stock is currently 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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