BlackRock Fund Advisors recently announced the acquisition of new stake in Welbilt Inc. (NYSE:WBT). The institutional investor has increased its shareholding in the Industrials company by 3.58% to 8.28 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 5.85% valued currently at $50.33 million. In addition, Invesco Advisers, Inc. raised its holdings by 2.87 million to 7.13 million shares.
With over 1.84 million Welbilt Inc. (WBT) shares trading Tuesday and a closing price of $7.27 on the day, the dollar volume was approximately $13.39 million. The shares have shown a negative weekly performance of -4.59% and its price on 09/01/20 lost nearly -1.49%. Currently, there are 141.50M common shares owned by the public and among those 140.98M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for WBT have a consensus price objective of $8.33. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Welbilt Inc. stock is 2.10 for the next 12 months. The average price target is 18.13% above its last price level and an upside to the estimated low will see the stock lose -81.75% over that period. But an upside of 44.08% will see the stock hit the forecast high price target while mean target price for the stock is $8.00.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 226,954 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 13,746 shares.
The top 3 mutual fund holders in Welbilt Inc. are Vanguard Total Stock Market Index, Invesco Small Cap Growth Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 3.65 million shares of the company’s stock, all valued at over $22.18 million. The company sold 4984.0 shares recently to bring their total holdings to about 2.58% of the shares outstanding. Invesco Small Cap Growth Fund bought 1.6 million shares to see its total holdings expand to 3.26 million shares valued at over $19.82 million and representing 2.30% of the shares outstanding. Vanguard Small Cap Index Fund sold 18760.0 shares to bring its total holdings to over 3.17 million shares at a value of $19.3 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
Shares of Welbilt Inc. (NYSE: WBT) opened at $7.28, down -$0.1 from a prior closing price of $7.38. However, the script later closed the day at $7.27, down -1.49%. The company’s stock has a 5-day price change of -4.59% and 4.01% over the past three months. WBT shares are trading -53.43% year to date (YTD), with the 12-month market performance down to -52.55% lower. It has a 12-month low price of $3.17 and touched a high of $19.81 over the same period. Currently, 1.84 million shares have been traded, compared to an average intraday trading volume of 1.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.77%, 9.38%, and -23.63% respectively.
Institutional ownership of Welbilt Inc. (NYSE: WBT) shares accounts for 86.80% of the company’s 141.50M shares outstanding. Mutual fund holders own 40.97%, while other institutional holders and individual stakeholders account for 46.27% and 0.67% respectively.
It has a market capitalization of $1.01B and a beta (3y monthly) value of 2.02. The stock’s trailing 12-month PE ratio is 173.10, while the earnings-per-share (ttm) stands at $0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.75% over the week and 5.21% over the month.
Analysts forecast that Welbilt Inc. (WBT) will achieve an EPS of -$0.01 for the current quarter, $0.03 for the next quarter and $0.27 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.10%, and 1000.00% over the next financial year. EPS should grow at an annualized rate of -4.00% over the next five years, compared to -19.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Welbilt Inc. (WBT) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 3 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the WBT, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on July 17, 2020, with the firm’s price target at $8. CL King coverage for the Welbilt Inc. (WBT) stock in a research note released on July 08, 2020 offered a Buy rating with a price target of $8. Buckingham Research was of a view on December 11, 2019 that the stock is Neutral, while BMO Capital Markets gave the stock Market Perform rating on October 18, 2019, issuing a price target of $19. Citigroup on their part issued Buy rating on July 10, 2019.