Barclays initiated coverage on shares of Welbilt (NYSE:WBT) in a research note released on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $25.00 price objective on the industrial products company’s stock.

WBT has been the topic of several other research reports. KeyCorp reiterated a buy rating and set a $25.00 price target on shares of Welbilt in a research report on Thursday, October 12th. Dougherty & Co reiterated a neutral rating on shares of Welbilt in a research report on Thursday, August 17th. Longbow Research assumed coverage on shares of Welbilt in a research report on Tuesday, October 10th. They set a neutral rating on the stock. Citigroup increased their price target on shares of Welbilt from $20.00 to $24.00 and gave the stock a neutral rating in a research report on Friday, October 13th. Finally, Robert W. Baird set a $22.00 price target on shares of Welbilt and gave the stock a buy rating in a research report on Thursday, August 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $23.17.

Welbilt (NYSE WBT) traded down $0.11 during midday trading on Tuesday, hitting $22.08. 1,227,200 shares of the company traded hands, compared to its average volume of 792,303. The company has a debt-to-equity ratio of 29.38, a current ratio of 1.35 and a quick ratio of 0.79. The firm has a market cap of $3,094.30, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 2.85 and a beta of 2.05. Welbilt has a twelve month low of $17.55 and a twelve month high of $23.46.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $380.40 million for the quarter, compared to analyst estimates of $387.05 million. Welbilt had a negative return on equity of 2,645.52% and a net margin of 6.14%. The company’s revenue for the quarter was down .9% on a year-over-year basis. equities research analysts predict that Welbilt will post 0.78 earnings per share for the current year.

A hedge fund recently raised its stake in Welbilt stock. Capital Research Global Investors raised its stake in Welbilt Inc (NYSE:WBT) by 91.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000,000 shares of the industrial products company’s stock after buying an additional 1,431,642 shares during the period. Capital Research Global Investors owned 2.16% of Welbilt worth $56,550,000 at the end of the most recent quarter. 91.15% of the stock is currently owned by institutional investors.

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About Welbilt

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

Analyst Recommendations for Welbilt (NYSE:WBT)

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