Welbilt, Inc (NYSE:WBT) – Equities researchers at KeyCorp reduced their FY2019 earnings per share estimates for shares of Welbilt in a research note issued on Monday, January 21st. KeyCorp analyst J. Hammond now expects that the industrial products company will earn $0.87 per share for the year, down from their prior forecast of $0.90. KeyCorp has a “Overweight” rating and a $22.00 price objective on the stock.

Welbilt (NYSE:WBT) last issued its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). Welbilt had a net margin of 7.56% and a return on equity of 88.66%. The business had revenue of $412.90 million during the quarter, compared to analyst estimates of $421.89 million. During the same period in the previous year, the company posted $0.22 earnings per share. Welbilt’s revenue was up 8.5% compared to the same quarter last year.

A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Longbow Research set a $16.00 price objective on shares of Welbilt and gave the company a “buy” rating in a research note on Monday, January 14th. William Blair reaffirmed a “buy” rating on shares of Welbilt in a research note on Friday, January 11th. ValuEngine lowered shares of Welbilt from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. Finally, Barclays set a $19.00 price objective on shares of Welbilt and gave the company a “buy” rating in a research note on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Welbilt presently has an average rating of “Buy” and a consensus target price of $21.11.

WBT stock opened at $13.16 on Wednesday. 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 one year low of $10.66 and a one year high of $23.85. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 17.09 and a beta of 1.39.

In related news, insider William Johnson purchased 29,962 shares of Welbilt stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average cost of $13.33 per share, with a total value of $399,393.46. Following the completion of the transaction, the insider now directly owns 29,962 shares of the company’s stock, valued at $399,393.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard James Sheffer purchased 4,400 shares of Welbilt stock in a transaction dated Tuesday, November 27th. The stock was bought at an average cost of $13.71 per share, with a total value of $60,324.00. Following the completion of the transaction, the vice president now directly owns 4,400 shares of the company’s stock, valued at $60,324. The disclosure for this purchase can be found here. Insiders bought 38,862 shares of company stock valued at $522,897 over the last three months. 0.37% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Welbilt by 0.9% in the third quarter. Vanguard Group Inc. now owns 12,039,941 shares of the industrial products company’s stock worth $251,394,000 after purchasing an additional 102,013 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Welbilt by 0.9% in the third quarter. Vanguard Group Inc now owns 12,039,941 shares of the industrial products company’s stock worth $251,394,000 after purchasing an additional 102,013 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Welbilt by 54.0% in the third quarter. Brown Advisory Inc. now owns 6,336,185 shares of the industrial products company’s stock worth $132,301,000 after purchasing an additional 2,222,105 shares in the last quarter. BlackRock Inc. lifted its position in shares of Welbilt by 6.3% in the second quarter. BlackRock Inc. now owns 5,686,526 shares of the industrial products company’s stock worth $126,868,000 after purchasing an additional 336,654 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Welbilt by 0.4% in the third quarter. Earnest Partners LLC now owns 3,225,952 shares of the industrial products company’s stock worth $67,358,000 after purchasing an additional 11,741 shares in the last quarter. 93.38% of the stock is owned by institutional investors and hedge funds.

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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