Welbilt (NYSE:WBT) Lowered to Neutral at Robert W. Baird


Welbilt (NYSE:WBT) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, The Fly reports.

Several other research firms have also recently commented on WBT. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Welbilt from $24.75 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. BMO Capital Markets raised their target price on Welbilt from $17.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, May 10th. KeyCorp reissued a “sector weight” rating on shares of Welbilt in a research note on Wednesday, April 28th. Citigroup raised their target price on Welbilt from $13.00 to $19.00 in a research note on Thursday, March 11th. Finally, Zacks Investment Research raised Welbilt from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, May 4th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.75.

NYSE:WBT opened at $24.16 on Tuesday. Welbilt has a one year low of $5.21 and a one year high of $25.19. The company has a debt-to-equity ratio of 5.21, a quick ratio of 1.36 and a current ratio of 2.12. The firm has a market capitalization of $3.43 billion, a PE ratio of 219.64 and a beta of 2.46. The firm has a 50 day moving average of $21.67.

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Welbilt (NYSE:WBT) last posted its quarterly earnings results on Thursday, May 6th. The industrial products company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. Welbilt had a return on equity of 13.46% and a net margin of 1.37%. The firm had revenue of $316.80 million during the quarter, compared to analysts’ expectations of $287.77 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Welbilt will post 0.47 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Asset Advisory Services LLC acquired a new stake in shares of Welbilt in the fourth quarter valued at $26,000. International Assets Investment Management LLC boosted its holdings in Welbilt by 224.4% in the first quarter. International Assets Investment Management LLC now owns 2,086 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 1,443 shares during the period. First Mercantile Trust Co. purchased a new position in Welbilt in the fourth quarter valued at $35,000. Geneos Wealth Management Inc. purchased a new position in Welbilt in the first quarter valued at $109,000. Finally, Arlington Partners LLC purchased a new position in Welbilt in the first quarter valued at $80,000. 90.92% of the stock is owned by institutional investors and hedge funds.

About Welbilt

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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