Welbilt (NYSE:WBT) had its price target cut by Citigroup from $23.00 to $16.00 in a research note issued to investors on Tuesday morning. They currently have a neutral rating on the industrial products company’s stock.

Several other analysts also recently issued reports on WBT. Zacks Investment Research raised shares of Welbilt from a hold rating to a buy rating and set a $26.00 target price on the stock in a research note on Sunday, July 15th. Barclays set a $25.00 target price on shares of Welbilt and gave the company a buy rating in a research note on Monday, August 20th. Robert W. Baird set a $19.00 target price on shares of Welbilt and gave the company a buy rating in a research note on Monday, November 5th. Finally, KeyCorp cut their target price on shares of Welbilt from $25.00 to $22.00 and set an overweight rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Welbilt presently has an average rating of Buy and an average price target of $21.75.

Shares of NYSE:WBT opened at $14.18 on Tuesday. The company has a debt-to-equity ratio of 10.00, a quick ratio of 0.80 and a current ratio of 1.41. Welbilt has a 12-month low of $13.40 and a 12-month high of $23.85. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 17.00 and a beta of 1.23.

Welbilt (NYSE:WBT) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $421.89 million. During the same period last year, the firm earned $0.22 earnings per share. Welbilt’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Welbilt will post 0.78 earnings per share for the current fiscal year.

In other news, EVP Richard N. Caron sold 9,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the transaction, the executive vice president now directly owns 100 shares in the company, valued at approximately $2,188. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Several institutional investors have recently bought and sold shares of WBT. Jane Street Group LLC purchased a new position in shares of Welbilt during the 1st quarter valued at $247,000. Guggenheim Capital LLC grew its holdings in shares of Welbilt by 5.6% during the 1st quarter. Guggenheim Capital LLC now owns 111,828 shares of the industrial products company’s stock valued at $2,175,000 after acquiring an additional 5,934 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Welbilt by 18.0% during the 1st quarter. Millennium Management LLC now owns 348,972 shares of the industrial products company’s stock valued at $6,788,000 after acquiring an additional 53,209 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Welbilt by 25.5% during the 1st quarter. Royal Bank of Canada now owns 200,918 shares of the industrial products company’s stock valued at $3,907,000 after acquiring an additional 40,826 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Welbilt by 20.0% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,169 shares of the industrial products company’s stock valued at $373,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

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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