S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20
S&P 500   4,594.62
DOW   34,899.34
QQQ   391.20

Welbilt, Inc (NYSE:WBT) Given Consensus Rating of "Hold" by Brokerages

Last updated on Thursday, November 25, 2021 | 2021 MarketBeat

Welbilt, Inc (NYSE:WBT) has been given an average recommendation of "Hold" by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $24.29.

Separately, Zacks Investment Research raised shares of Welbilt from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a report on Saturday, November 6th.

In other news, EVP Joel H. Horn sold 18,833 shares of Welbilt stock in a transaction on Wednesday, September 29th. The shares were sold at an average price of $23.56, for a total transaction of $443,705.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin D. Agard sold 23,532 shares of Welbilt stock in a transaction on Thursday, October 21st. The stock was sold at an average price of $23.66, for a total transaction of $556,767.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,208 shares of company stock worth $1,304,931. 0.47% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Eaton Vance Management raised its holdings in shares of Welbilt by 1.3% during the first quarter. Eaton Vance Management now owns 58,498 shares of the industrial products company's stock worth $951,000 after purchasing an additional 757 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Welbilt by 0.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 91,458 shares of the industrial products company's stock valued at $2,125,000 after buying an additional 842 shares in the last quarter. Stifel Financial Corp increased its holdings in Welbilt by 5.0% in the second quarter. Stifel Financial Corp now owns 19,711 shares of the industrial products company's stock valued at $456,000 after buying an additional 941 shares in the last quarter. California State Teachers Retirement System increased its holdings in Welbilt by 0.5% in the third quarter. California State Teachers Retirement System now owns 181,079 shares of the industrial products company's stock valued at $4,208,000 after buying an additional 945 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Welbilt by 3.1% in the third quarter. Victory Capital Management Inc. now owns 32,883 shares of the industrial products company's stock valued at $764,000 after buying an additional 976 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Shares of Welbilt stock opened at $23.65 on Thursday. The company has a market capitalization of $3.37 billion, a P/E ratio of 43.80 and a beta of 2.32. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.09 and a current ratio of 1.85. The company has a fifty day moving average of $23.63 and a 200 day moving average of $23.37. Welbilt has a fifty-two week low of $9.30 and a fifty-two week high of $25.19.

Welbilt (NYSE:WBT) last released its quarterly earnings data on Tuesday, November 2nd. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Welbilt had a net margin of 5.31% and a return on equity of 31.53%. Analysts forecast that Welbilt will post 0.65 EPS for the current year.

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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Analyst Recommendations for Welbilt (NYSE:WBT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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