Welbilt (NYSE:WBT) had its price target lowered by research analysts at Buckingham Research from $17.00 to $16.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Buckingham Research’s target price points to a potential upside of 11.73% from the company’s previous close.
Several other analysts have also recently weighed in on WBT. Zacks Investment Research cut Welbilt from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a research report on Tuesday. Barclays reaffirmed a “buy” rating and set a $20.00 price objective on shares of Welbilt in a research report on Wednesday, October 16th. Finally, BMO Capital Markets started coverage on Welbilt in a research report on Friday, October 18th. They set a “market perform” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.40.
Welbilt stock opened at $14.32 on Thursday. The stock’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $16.37. The company has a debt-to-equity ratio of 6.30, a quick ratio of 1.10 and a current ratio of 1.71. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 33.30 and a beta of 1.57. Welbilt has a fifty-two week low of $14.25 and a fifty-two week high of $19.81.
A number of institutional investors have recently bought and sold shares of WBT. First Bank & Trust boosted its position in shares of 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 in the last quarter. Strs Ohio boosted its position in shares of Welbilt by 50.0% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,200 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Welbilt in the 4th quarter worth approximately $80,000. Cubist Systematic Strategies LLC bought a new stake in shares of Welbilt in the 2nd quarter worth approximately $129,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of 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 in the last quarter. 98.87% of the stock is currently owned by institutional investors and hedge funds.
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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