Welbilt price target raised to $25 from $17 at BMO Capital » 08:2105/1005/10/21
BMO Capital analyst Joel…
BMO Capital analyst Joel Tiss raised the firm's price target on Welbilt to $25 from $17 and keeps a Market Perform rating on the shares. The company exhibited "resilient profitability" and he strong operational performance with its Q1 earnings beat, the analyst tells investors in a research note, adding that Welbilt's revenue trends also appear to be on the mend. Tiss raises his FY21 EPS view on the stock by 10c to 55c and FY22 view by 20c to 90c.
|Over a week ago|
Welbilt price target raised to $26 from $18 at Baird » 19:0105/0605/06/21
Baird analyst Mircea…
Baird analyst Mircea Dobre raised the firm's price target on Welbilt (WBT) to $26 from $18 and keeps an Outperform rating on the shares. Dobre said that the company's Q1 results included "solid" margin expansion, with other bright spots including higher QSR project rollouts, increased KitchenCare sales, and accelerating Education orders. The analyst continues to view the acquisition by Middleby (MIDD) positively, allowing Welbilt shareholders to benefit from meaningful value creation and synergies.
Welbilt reports Q1 adjusted EPS 8c, consensus 3c » 06:2805/0605/06/21
Reports Q1 revenue…
Reports Q1 revenue $316.8M, consensus $291.19M. CEO Bill Johnson stated, "Q1 Third-party Net Sales and Organic Net Sales grew in the Americas for the first time since the beginning of the COVID-19 pandemic, which drove a smaller-than-expected decrease in net sales this quarter compared to last year's Q1. We are pleased that our Adjusted Operating EBITDA and Adjusted Operating EBITDA margin exceeded last year's levels despite the dilutive effect of the sales decline, and that our Free Cash Flow was a substantially smaller use of cash than either of the last two year's first quarters. Both of these are attributable to the improvements we have made to date as part of our Business Transformation Program and through the cost containment actions we put in place last year that are continuing to benefit us. Industry conditions are gradually improving with the rollout of COVID-19 vaccines and the lifting of restrictions in some locations, although improvements are uneven globally. We are continuing to closely monitor the recovery and will adjust our costs and investments accordingly."
Welbilt partners with Nuovair to supply blast chillers in North America » 06:0805/0305/03/21
Welbilt is proud to be…
Welbilt is proud to be the exclusive distributor in the United States and Canada of roll-in blast chillers from Nuovair, the Italy-based specialists in high-quality blast chillers.
Welbilt files automatic mixed securities shelf 16:1304/2704/27/21
Fly Intel: Top five analyst downgrades » 09:5204/2204/22/21
FSR, RIDE, PLNT, SHLS, BAK, WBT
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fisker (FSR) downgraded to Sell from Neutral with Lordstown Motors (RIDE) downgraded to Neutral from Buy at Goldman Sachs. 2. Planet Fitness (PLNT) downgraded to Neutral from Overweight at Piper Sandler with analyst Peter Keith saying the speed of the company's recovery is uncertain and a "bull case" now seems priced into the shares. 3. Shoals Technologies (SHLS) downgraded to Equal Weight from Overweight at Barclays with analyst Moses Sutton telling investors to not "over-concentrate" in U.S. solar heading into the Q1 results. 4. Braskem (BAK) downgraded to Hold from Buy at HSBC with analyst Lilyanna Yang citing valuation. 5. Welbilt (WBT) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jeffrey Hammond seeing the likelihood of another bidder besides Middleby (MIDD) emerging as low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Middleby price target raised to $220 from $190 at Jefferies » 09:1804/2204/22/21
Jefferies analyst Saree…
Jefferies analyst Saree Boroditsky raised the firm's price target on Middleby (MIDD) to $220 from $190 and keeps a Buy rating on the shares, citing a positive view of the company's planned combination with Welbilt (WBT). Given a combination of higher volumes and cost savings, Boroditsky sees potential for the combined company to earn over $12 per share in 2023.
Middleby price target raised to $169 from $155 at JPMorgan » 07:3204/2204/22/21
JPMorgan analyst Thomas…
JPMorgan analyst Thomas Simonitsch raised the firm's price target on Middleby (MIDD) to $169 from $155 and keeps a Neutral rating on the shares after the company announced the acquisition of Welbilt (WBT) and preannounced Q1 orders growth across all segments. The Q1 preannouncement provided a "favorable tailwind" to the stock yesterday and the announced acquisition is a positive in terms strategic rationale, multiple paid, conservative synergy targets and timing, Simonitsch tells investors in a research note.
Middleby price target raised to $210 from $195 at KeyBanc » 06:2204/2204/22/21
KeyBanc analyst Jeffrey…
KeyBanc analyst Jeffrey Hammond raised the firm's price target on Middleby (MIDD) to $210 from $195 and reiterates an Overweight rating on the shares following the announced acquisition of Welbilt (WBT). The analyst thinks Middleby is buying a "high quality, complementary asset at the front end of a multi-year recovery." He sees "reasonable" synergy targets withroom for upside and no stress on its balance sheet.
Welbilt downgraded to Sector Weight from Overweight at KeyBanc » 06:2104/2204/22/21
KeyBanc analyst Jeffrey…
KeyBanc analyst Jeffrey Hammond downgraded Welbilt (WBT) to Sector Weight from Overweight without a price target following the Middleby (MIDD) takeover agreement. The analyst sees the likelihood of another bidder emerging as low.