Welbilt Inc (NYSE:WBT) announced its quarterly earnings results on Monday. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.01. Welbilt had a net margin of 8.38% and a return on equity of 57.49%. The firm had revenue of $328 million for the quarter, compared to the consensus estimate of $318.12 million. Welbilt’s revenue was up .8% compared to the same quarter last year. Welbilt updated its FY17 guidance to $0.65-0.75 EPS.
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WBT has been the subject of a number of research reports. Zacks Investment Research raised Welbilt from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, May 10th. Dougherty & Co initiated coverage on Welbilt in a research note on Thursday, February 2nd. They set a “buy” rating and a $21.00 price target for the company. Barclays PLC increased their price target on Welbilt from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Finally, Robert W. Baird raised Welbilt from a “neutral” rating to an “outperform” rating and increased their price target for the company from $18.00 to $22.00 in a research note on Thursday, February 16th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $21.50.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY bought a new position in shares of Welbilt during the first quarter valued at $115,000. Nisa Investment Advisors LLC bought a new position in shares of Welbilt during the first quarter valued at $120,000. Teacher Retirement System of Texas bought a new position in shares of Welbilt during the first quarter valued at $203,000. BlueCrest Capital Management Ltd bought a new position in shares of Welbilt during the first quarter valued at $203,000. Finally, Jacobus Wealth Management Inc. bought a new position in shares of Welbilt during the first quarter valued at $207,000. Institutional investors and hedge funds own 82.50% of the company’s stock.
Welbilt Company Profile
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.
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