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WBT

Welbilt

$15.98

-0.08 (-0.50%)

06:11
05/14/19
05/14
06:11
05/14/19
06:11

Welbilt CEO says sees 'clear path to profitable growth'

"Welbilt has a strong foundation with significant opportunity for enhanced profitable growth," said CEO Bill Johnson. "We have leading brands that customers prefer due to our innovation leadership and our commitment to our channel partners. We are committed to further improving our customers' experience by effectively going to market as a portfolio of brands, making Welbilt the easiest company to do business with in the commercial foodservice equipment industry. We are investing in automated controls, system solutions and connectivity across all of our brands to maintain our leadership in solving customers' system needs." "I see a clear path to profitable growth by continuing to drive brand preference with our customers, being disciplined with our value pricing philosophy and embedding operational excellence throughout the entire organization. We have begun to execute our Transformation Program, which focuses on improving our global manufacturing and distribution operations, procurement, engineering, KitchenCare, sales and marketing and other corporate functions. We have detailed plans to address each of these areas and expect these actions to generate approximately $75 million, or 500 basis points, of run-rate savings by the second half of 2021. We expect to invest between $70 million and $80 million in Transformation Program and restructuring costs to deliver these savings, which provides a payback of approximately one year on this investment. Our focus on enhanced profitable growth and margin expansion will allow us to continue generating strong Free Cash Flow. We intend to focus the majority of our Free Cash Flow on deleveraging our balance sheet by reducing debt. Once strengthened, our balance sheet will become a source of additional growth - allowing us to increasingly invest on internal initiatives and future acquisitions," concluded Johnson.

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WBT Welbilt
$15.98

-0.08 (-0.50%)

06/28/18
KING
06/28/18
INITIATION
KING
Neutral
Welbilt initiated with a Neutral at CL King
CL King initiated Welbilt with a Neutral citing premium valuation, inconsistent growth, and relatively high level of interest expense.
07/13/18
BUCK
07/13/18
NO CHANGE
Target $115
BUCK
Neutral
Middleby earnings estimates 'still a little too high,' says Buckingham
Buckingham analyst James Clement maintained a Neutral rating and $115 price target on The Middleby Corporation (MIDD), telling investors in a research note that his chief concern are earnings estimates that he thinks are "still a little too high" in the near-term. While he thinks commercial foodservice is showing signs of improvement, Clement says he has no visibility on any potential improvements in large Processing orders and is concerned organic sales could decline in proportion with the 28.7% decline seen in Q1. Clement says he prefers Welbilt (WBT) at this time due to its "pure play" commercial foodservice exposure.
08/20/18
LEHM
08/20/18
NO CHANGE
Target $25
LEHM
Overweight
Welbilt's management team 'well prepared' to execute on strategy, says Barclays
Barclays analyst Adam Seiden reaffirmed his Outperform rating and $25 price target on Welbilt, telling investors in a research note that the company's management team appears "well prepared" to execute on the forward-thinking strategy put into place by its current executive leadership team. Seiden says Josef Matosevic, the company's incoming interim CEO, has the "clear support" of senior executives and expects him to play an "integral" role in the future of Welbilt. Seiden contends that there is still "meaningful room to run" on Welbilt's sales and margin journeys.
01/11/19
WBLR
01/11/19
NO CHANGE
WBLR
Outperform
Welbilt shares can reach upper teens, says William Blair
While the senior management changes provided some uncertainty, shares of Welbilt are inexpensive and offer "some of the best upside potential in our group," William Blair analyst Lawrence De Maria tells investors in a research note. He believes the stock can reach the upper teens "even with a compressed multiple." The government shutdown also provides some economic risk but emergency funds will keep food inspections ongoing, says De Maria. He keeps an Outperform rating on Welbilt.

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LSCC

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ZM

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UAL

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American Airlines

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DIS

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WVE

Wave Life Sciences

$26.21

0.18 (0.69%)

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CALA

Calithera Biosciences

$5.66

-0.06 (-1.05%)

08:51
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HOTH

Hoth Therapeutics

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BLCM

Bellicum Pharmaceuticals

$2.93

-0.14 (-4.56%)

08:48
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AZPN

Aspen Technology

$116.07

-1.02 (-0.87%)

08:45
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AVID

Avid Technology

$7.77

0.07 (0.91%)

08:44
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DE

Deere

$134.82

-11.15 (-7.64%)

08:41
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AMRS

Amyris

$4.24

-0.16 (-3.64%)

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OESX

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GRUB

GrubHub

$61.71

-0.55 (-0.88%)

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, HPE

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$14.63

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AMZN

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IBM

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ALB

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ZBRA

Zebra Technologies

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