Baird maintained its Welbilt Inc. [NYSE:WBT] rating to the equivalent of Outperform but changed the price target to $17 from $9, in a research note dated December 30, 2020. That figure represents around a 30.66% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Citigroup’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in mid July. In addition, there was a downgrade from Buckingham Research on December 11, 2019. The rater changed WBT from “a Buy” to “a Neutral”.
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Is Welbilt Inc. [NYSE:WBT] a Good Buy Right Now?
It should be noted that WBT technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Welbilt Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 1.82 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.94 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.72 million shares.
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WBT Price Performance
On Wall Street, Welbilt Inc. [NYSE:WBT] finished Tuesday’s session up 2.20% at $13.01. The stock went up to $13.05 at the same session while its lowest single day price was $12.6401. In the last five days, it saw a rise of about 13.53%, Welbilt Inc. shares dropped by almost -16.66% since the beginning of the year. However, the share price has dropped to as low as -18.59% below its one year high. On 01/24/20, the company shares recorded $15.78, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/19/20, the same year at $3.17. The company’s shares have declined by -16.76% in the past year. The 50-day SMA achieved is $9.33 while the 200-day SMA is $6.85. Volume dropped to 2.03 million from 2.67 million in the previous session.
WBT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 12.75 level, and in case of violation of this particular level, it will cause more drop to 12.49 level. On the upper level, 13.31 is still the key resistance. The stock may increase to the subsequent resistance at 13.16. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.79, implying a overbought technical stance while the MACD stands at 0.81, meaning price will decrease in the next trading period. Percent R indicator moved to 2.33%, implying bullish price movement. Stochastic %K at 86.76% suggest selling the stock.
What is the short interest in Welbilt Inc.?
Short interest in the Welbilt Inc. stock has surged, increasing by 0.51 million shares to total 6.61 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.12 million, data from Yahoo Finance shows. The decrease of -7.72% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.69% of the overall float for the stock.
Welbilt Inc.’s Biggest Shareholders: Who Owns Welbilt Inc. [WBT]?
Filings by Icahn Associates Holding LLC showed that the firm now holds a total of 11,942,238 shares or roughly 8.44% of the outstanding WBT shares. This means their shares have reduced by 0 from the 11,942,238 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $101,907,921. Details in the latest 13F filings reveal that Champlain Investment Partners LLC disposed off their -0.08% stake valued at $73,680,620 while BlackRock Fund Advisors cut theirs at $71,784,752. During the last quarter, Champlain Investment Partners LLC liquidated -6,520 of its shares in Welbilt Inc. while BlackRock Fund Advisors sold -681,155 shares. The Invesco Advisers, Inc.’s holdings currently number 6,871,430 shares at $89397304.3. According to the firm’s last 13F report, Turtle Creek Asset Management, In shares in the company at filing stood at 6,335,222 shares, roughly $59,867,848.
WBT Earnings Forecast For The Current Quarter
Welbilt Inc. [WBT] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $287.33M and an earnings per share of $0.03 for Dec 2020. Looking further ahead, the company is expected to report revenue of $276.53M at an EPS of $0 for Mar 2021. The estimates represent downside of 12.10% and 660.98% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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WBT Earnings Estimates For The Current Year
For the financial year, Welbilt Inc. [NYSE:WBT] is expected to bring in revenue of $1.12B. The returns are nearly $-470.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.04, lower than that of FY19 by -$0.64. Estimates put this year’s earnings growth at -94.10%, 700.00% for the next, and at an annual -9.70% over the next 5-year period. As for sales, forecasts are for a decrease of -29.80% in the current fiscal year and a further 12.10% over the following year.
