Citigroup upgraded shares of Welbilt (NYSE:WBT) from a neutral rating to a buy rating in a research note published on Wednesday morning, Benzinga reports. Citigroup currently has $19.00 price target on the industrial products company’s stock, up from their previous price target of $17.00.

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Welbilt from a hold rating to a sell rating in a research report on Wednesday, June 12th. Zacks Investment Research raised shares of Zymeworks from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Saturday, April 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $20.57.

Shares of WBT stock opened at $16.82 on Wednesday. The firm has a market cap of $2.29 billion, a P/E ratio of 21.56 and a beta of 1.66. Welbilt has a 52 week low of $10.66 and a 52 week high of $23.85. The company has a current ratio of 1.74, a quick ratio of 1.08 and a debt-to-equity ratio of 8.18. The stock’s 50 day moving average is $15.98.

Welbilt (NYSE:WBT) last announced its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $375.30 million for the quarter, compared to analyst estimates of $373.44 million. Welbilt had a return on equity of 57.14% and a net margin of 3.75%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. As a group, equities analysts expect that Welbilt will post 0.75 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Welbilt by 22.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 32,839 shares of the industrial products company’s stock worth $365,000 after purchasing an additional 6,066 shares during the period. BlackRock Inc. boosted its position in Welbilt by 1.7% during the 4th 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. Bank of New York Mellon Corp boosted its position in Welbilt by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,733,532 shares of the industrial products company’s stock worth $19,259,000 after purchasing an additional 165,931 shares during the period. Citigroup Inc. lifted its holdings in Welbilt by 3,134.9% in the 4th quarter. Citigroup Inc. now owns 39,401 shares of the industrial products company’s stock worth $438,000 after buying an additional 38,183 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Welbilt by 81.1% in the 4th quarter. GSA Capital Partners LLP now owns 39,667 shares of the industrial products company’s stock worth $441,000 after buying an additional 17,761 shares in the last quarter. 99.85% 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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Analyst Recommendations for Welbilt (NYSE:WBT)

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