Welbilt (NYSE:WBT) Price Target Cut to $8.00

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Welbilt (NYSE:WBT) had its price objective cut by KeyCorp from $20.00 to $8.00 in a report released on Monday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on WBT. Buckingham Research decreased their price objective on Welbilt from $16.00 to $14.00 and set a neutral rating for the company in a report on Wednesday, February 26th. ValuEngine cut Welbilt from a hold rating to a sell rating in a report on Tuesday, March 17th. Zacks Investment Research raised Welbilt from a sell rating to a hold rating in a report on Saturday, March 14th. Finally, Citigroup reduced their price target on Welbilt from $19.00 to $17.00 and set a buy rating for the company in a report on Wednesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $13.50.

Shares of WBT stock opened at $4.75 on Monday. The stock has a market cap of $662.13 million, a PE ratio of 12.18 and a beta of 1.54. The business has a 50-day simple moving average of $10.94 and a 200-day simple moving average of $15.21. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 5.66. Welbilt has a 52-week low of $3.17 and a 52-week high of $19.81.

Welbilt (NYSE:WBT) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The business had revenue of $381.80 million during the quarter, compared to analysts’ expectations of $400.51 million. Welbilt had a return on equity of 43.49% and a net margin of 3.51%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Sell-side analysts anticipate that Welbilt will post 0.69 earnings per share for the current fiscal year.

In other Welbilt news, EVP Jennifer Gudenkauf purchased 5,252 shares of Welbilt stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $8.57 per share, with a total value of $45,009.64. Following the acquisition, the executive vice president now owns 11,125 shares of the company’s stock, valued at approximately $95,341.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Johnson purchased 10,091 shares of Welbilt stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $8.48 per share, with a total value of $85,571.68. Corporate insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Bank & Trust raised its holdings in Welbilt by 256.3% in the 4th quarter. First Bank & Trust now owns 1,931 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,389 shares during the period. Aigen Investment Management LP acquired a new position in Welbilt in the 4th quarter worth about $80,000. Great West Life Assurance Co. Can raised its holdings in Welbilt by 15.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 8,873 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 1,195 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Welbilt during the fourth quarter valued at approximately $162,000. Finally, Pearl River Capital LLC acquired a new position in shares of Welbilt during the fourth quarter valued at approximately $218,000. 99.86% of the stock is owned by institutional investors.

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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