Welbilt Inc. [WBT] Stock Gets Reiterated At Baird. It’s Still an Outperform

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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.‎


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