Welbilt, Inc (NYSE:WBT) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.00.

A number of equities research analysts recently commented on the company. Barclays set a $25.00 price objective on Welbilt and gave the company a “buy” rating in a report on Monday, August 20th. Citigroup dropped their price objective on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, August 15th. Zacks Investment Research upgraded Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 26th. Finally, CL King assumed coverage on Welbilt in a report on Thursday, June 28th. They issued a “neutral” rating for the company.

In other Welbilt news, EVP Richard N. Caron sold 9,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $21.88, for a total value of $196,920.00. Following the completion of the sale, the executive vice president now directly owns 100 shares in the company, valued at $2,188. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Fort L.P. bought a new stake in shares of Welbilt in the second quarter worth about $126,000. Cornerstone Wealth Management LLC bought a new stake in shares of Welbilt in the second quarter worth about $200,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Welbilt in the second quarter worth about $210,000. Thompson Investment Management Inc. bought a new stake in shares of Welbilt in the second quarter worth about $217,000. Finally, Colony Group LLC bought a new stake in shares of Welbilt in the second quarter worth about $229,000. Institutional investors own 89.56% of the company’s stock.

NYSE WBT opened at $19.40 on Friday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 25.19 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 10.00. Welbilt has a 12 month low of $18.31 and a 12 month high of $23.85.

Welbilt (NYSE:WBT) last released its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $420.70 million during the quarter, compared to the consensus estimate of $401.45 million. Welbilt had a return on equity of 110.60% and a net margin of 8.14%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts predict that Welbilt will post 0.87 EPS for the current year.

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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