Wall Street analysts expect that Welbilt, Inc (NYSE:WBT) will announce $396.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Welbilt’s earnings. The highest sales estimate is $404.40 million and the lowest is $389.80 million. Welbilt reported sales of $365.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.2%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, February 19th.
According to Zacks, analysts expect that Welbilt will report full year sales of $1.58 billion for the current financial year, with estimates ranging from $1.57 billion to $1.59 billion. For the next financial year, analysts expect that the company will report sales of $1.66 billion, with estimates ranging from $1.64 billion to $1.68 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Welbilt.
WBT has been the subject of several research reports. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Barclays set a $19.00 target price on Welbilt and gave the stock a “buy” rating in a research report on Tuesday, November 6th. ValuEngine raised Welbilt from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 31st. William Blair reaffirmed a “buy” rating on shares of Welbilt in a research report on Friday, January 11th. Finally, Citigroup cut their price objective on Welbilt from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Welbilt has an average rating of “Buy” and a consensus price target of $21.11.
WBT stock traded down $0.27 during midday trading on Wednesday, hitting $14.44. 2,244,528 shares of the company traded hands, compared to its average volume of 1,212,755. The company has a market cap of $2.06 billion, a PE ratio of 18.56 and a beta of 1.74. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 8.23. Welbilt has a twelve month low of $10.66 and a twelve month high of $23.85.
In other Welbilt news, insider William Johnson bought 29,962 shares of the stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $13.33 per share, for a total transaction of $399,393.46. Following the completion of the purchase, the insider now owns 29,962 shares in the company, valued at approximately $399,393.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Haresh Shah bought 4,500 shares of the stock in a transaction dated Monday, November 26th. The stock was acquired at an average price of $14.04 per share, with a total value of $63,180.00. Following the completion of the purchase, the chief financial officer now owns 4,500 shares of the company’s stock, valued at approximately $63,180. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 38,862 shares of company stock valued at $522,897. 0.37% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. acquired a new stake in shares of Welbilt in the fourth quarter valued at $9,924,000. Bank of New York Mellon Corp increased its stake in shares of Welbilt by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,733,532 shares of the industrial products company’s stock valued at $19,259,000 after buying an additional 165,931 shares in the last quarter. BlackRock Inc. increased its position in Welbilt by 1.7% in the fourth quarter. BlackRock Inc. now owns 5,632,581 shares of the industrial products company’s stock worth $62,578,000 after purchasing an additional 91,945 shares during the period. New York State Common Retirement Fund increased its position in Welbilt by 23.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,233,445 shares of the industrial products company’s stock worth $13,704,000 after purchasing an additional 238,081 shares during the period. Finally, Investec Asset Management LTD increased its position in Welbilt by 7.4% in the fourth quarter. Investec Asset Management LTD now owns 4,787,832 shares of the industrial products company’s stock worth $53,193,000 after purchasing an additional 329,202 shares during the period. Institutional investors own 93.17% 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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