Home Analyst Ratings KeyBanc maintains Welbilt at Overweight rating with an $18 price target

KeyBanc maintains Welbilt [WBT] at Overweight rating with an $18 price target

KeyBanc maintained its Welbilt [WBT] rating to the equivalent of Overweight but changed the price ‎target to $18, in a research note dated 2021-01-05. That figure represents around a 43.2% premium ‎from where the company’s shares closed on Monday. Meanwhile, Buckingham Research had lowered ‎its rating on WBT to “Neutral” from the earlier “Buy”, in a research note produced for clients December ‎‎11, 2019. In addition, BMO Capital Markets launched coverage on October 18, 2019. The research firm ‎rated WBT “a Market perform”.

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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 Weakest. The stock current average is ‎‎1.81 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 2.0 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 1.73 million shares.


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WBT Price Performance

On Wall Street, Welbilt Inc. ‎‎[NYSE:WBT] finished Monday’s session down -4.77% at $12.57. The stock went up to $13.61 at the ‎same session while its lowest single day price was $12.401. In the last five days, it saw a rise of about ‎‎2.28%, Welbilt Inc. shares dropped by almost -4.77% since the beginning of the year. However, the ‎share price has dropped to as low as -20.34% below its one year high. On 01/04/21, the company ‎shares recorded $13.61, the highest single-day price it has got to in the last 52-weeks and a 52-week ‎low was seen on 01/04/21, the same year at $12.40. The company’s shares have declined by -19.01% in ‎the past year. The 50-day SMA achieved is $9.70 while the 200-day SMA is $6.98. Volume dropped to ‎‎1.96 million from 2.0 million in the previous session.

WBT Stock Support And Resistance ‎Levels

On the 24-hour scale, the immediate backing is perceived around 12.11 level, and in case ‎of violation of this particular level, it will cause more drop to 11.65 level. On the upper level, 14.07 is still ‎the key resistance. The stock may increase to the subsequent resistance at 13.32. The Relative ‎Strength Index (RSI) pinned on the 14-day chart is 63.21, implying a neutral technical stance while the ‎MACD stands at 0.76, meaning price will decrease in the next trading period. Percent R indicator ‎moved to 38.52%, implying low price movement. Stochastic %K at 79.21% 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 $86373875.1. 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 12.40% and 670.73% 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 12.40% over ‎the following year.‎

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