Welbilt, Inc (NYSE:WBT) Given Average Rating of “Hold” by Analysts

Welbilt, Inc (NYSE:WBT – Get Rating) has received an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $24.75.

Separately, StockNews.com assumed coverage on Welbilt in a report on Thursday, March 31st. They issued a “hold” rating for the company.

NYSE:WBT opened at $23.24 on Thursday. The company has a market capitalization of $3.33 billion, a PE ratio of 50.52 and a beta of 2.03. The company has a quick ratio of 2.43, a current ratio of 3.19 and a debt-to-equity ratio of 3.95. Welbilt has a 52-week low of $19.39 and a 52-week high of $25.19. The stock has a fifty day simple moving average of $23.66 and a 200-day simple moving average of $23.70.

Welbilt (NYSE:WBT – Get Rating) last announced its earnings results on Tuesday, May 10th. The industrial products company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.09). Welbilt had a net margin of 4.18% and a return on equity of 29.17%. The firm had revenue of $330.00 million during the quarter, compared to analyst estimates of $346.80 million. During the same period in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Welbilt will post 0.9 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Calamos Advisors LLC grew its holdings in shares of Welbilt by 49.0% during the 4th quarter. Calamos Advisors LLC now owns 128,900 shares of the industrial products company’s stock worth $3,064,000 after purchasing an additional 42,400 shares during the period. Bank of America Corp DE raised its position in shares of Welbilt by 28.4% in the 4th quarter. Bank of America Corp DE now owns 2,856,464 shares of the industrial products company’s stock valued at $67,898,000 after purchasing an additional 632,343 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Welbilt during the 4th quarter valued at approximately $634,000. State of New Jersey Common Pension Fund D raised its position in shares of Welbilt by 4.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 118,909 shares of the industrial products company’s stock valued at $2,826,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Welbilt by 3.4% during the 4th quarter. Wolverine Asset Management LLC now owns 179,475 shares of the industrial products company’s stock valued at $4,266,000 after acquiring an additional 5,887 shares in the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.

About Welbilt (Get Rating)

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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