Welbilt (NYSE:WBT) Downgraded by ValuEngine to Sell
Several other research firms have also issued reports on WBT. Zacks Investment Research upgraded Zymeworks from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Saturday, April 27th. Citigroup upgraded Welbilt from a neutral rating to a buy rating and upped their target price for the stock from $17.00 to $19.00 in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Welbilt has an average rating of Buy and an average price target of $19.67.
Shares of WBT stock traded down $0.09 on Friday, hitting $15.90. 941,282 shares of the stock were exchanged, compared to its average volume of 1,733,395. The company has a debt-to-equity ratio of 8.18, a current ratio of 1.74 and a quick ratio of 1.08. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 20.38 and a beta of 1.66. The business has a 50-day moving average of $16.22. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $23.14.
A number of large investors have recently added to or reduced their stakes in WBT. Strs Ohio acquired a new position in shares of Welbilt in the second quarter valued at approximately $40,000. Huntington National Bank grew its position in shares of Welbilt by 99.0% in the first quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 1,627 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Welbilt by 2,938.8% in the first quarter. Quadrant Capital Group LLC now owns 3,920 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 3,791 shares during the last quarter. Triangle Securities Wealth Management acquired a new position in shares of Welbilt in the first quarter valued at approximately $895,000. Finally, CWM Advisors LLC acquired a new position in shares of Welbilt in the second quarter valued at approximately $176,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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