Barclays analyst Adam Seiden maintained a Buy rating on Welbilt Inc (WBT) on February 19 and set a price target of $19. The company’s shares closed yesterday at $16.07.
Seiden wrote:
“We remain OW as we see WBT as a more defensive longer-term name to own in the space through the cycle. Organic growth aids WBT’s push for margin expansion (positive price realization, capacity utilization), leading to higher FCF generation and debt reduction. WBT is targeting being at 4x leverage by the end of the year, but the hope is it could be a fraction lower. The company continues to focus automated technology and the connected kitchen, a continuation of their previous strategy and a trend we believe will dictate the next cycle in food equipment replacement.”
According to TipRanks.com, Seiden is ranked 0 out of 5 stars with an average return of -8.8% and a 30.0% success rate. Seiden covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Caterpillar, and Terex Corp.
Welbilt Inc has an analyst consensus of Strong Buy, with a price target consensus of $18.25, a 13.6% upside from current levels. In a report released yesterday, Robert W. Baird also maintained a Buy rating on the stock with a $18 price target.
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The company has a one-year high of $23.85 and a one-year low of $10.66. Currently, Welbilt Inc has an average volume of 1.45M.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WBT in relation to earlier this year.
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Welbilt, Inc. operates as a commercial foodservice equipment company. It designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market. It operates through following segments: Americas, EMEA and APAC. The Americas segment includes the United States, Canada and Latin America.
