Robert W. Baird downgraded Welbilt from Outperform to Neutral and set a new price target of $26.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/15/2021 | $20.00 → $24.00 | Overweight → Equal-Weight | Barclays |
| 7/2/2021 | Buy → Neutral | CL King |
Complementary acquisition enhances Commercial Water Solutions business; delivers total water management solutions for foodservice and hospitality customers Pentair plc (NYSE:PNR), a leading provider of water treatment and sustainable solutions, today announced that it has completed the previously announced transaction to acquire Manitowoc Ice from Welbilt, Inc. (NYSE:WBT) for $1.6 billion, subject to customary adjustments. Manitowoc Ice is a leading provider of commercial ice makers. "Manitowoc Ice is a great business and an iconic brand, and we are excited to welcome its team members to Pentair as we work together to deliver smart, sustainable water solutions to customers around the worl
Welbilt, Inc. (NYSE:WBT), a leading provider of commercial equipment and cloud device management for the foodservice industry, is proud to announce today the launch of the Largest Smart Restaurant Ecosystem. The ecosystem is powered by the biggest digital companies in the Internet of Things (IoT) space that will empower its homegrown cloud platform for connected restaurant equipment, KitchenConnect®. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220520005012/en/Largest Smart Restaurant Ecosystem Partners. (Graphic: Business Wire) The foodservice equipment industry is in the midst of the largest digital transformation in history.
Industry leaders collaborating to transform restaurant operations CHICAGO, May 19, 2022 /PRNewswire/ -- As restaurant operators seek to accelerate their digital transformation in response to labor challenges, changing consumer behaviors, and increasing cost pressures, AT&T*, Microsoft and Welbilt are coming together to help restaurants digitize, simplify and transform their kitchens across the food service industry. Welbilt selected AT&T to connect their award-winning KitchenConnect® cloud solution to build upon their restaurant equipment manufacturing expertise. KitchenConnect delivers improved efficiency, reduced cost, and enhanced food quality to commercial kitchens. "Using AT&T's wireles
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Barclays downgraded Welbilt from Overweight to Equal-Weight and set a new price target of $24.00 from $20.00 previously
CL King downgraded Welbilt from Buy to Neutral
Robert W. Baird downgraded Welbilt from Outperform to Neutral and set a new price target of $26.00
Welbilt, Inc. (NYSE:WBT), today announced financial results for its 2022 first quarter. Due to the announced and pending sale of Welbilt's Manitowoc® Ice business to Pentair plc, the results for Manitowoc Ice are presented as Discontinued Operations in this release and accompanying financial statements and tables for all periods presented. 2022 First Quarter Highlights (1) Net sales from continuing operations were $333.0 million, an increase of 31.5 percent from the prior year; Organic Net Sales from continuing operations (a non-GAAP measure) increased 33.4 percent from the prior year Earnings from continuing operations were $23.1 million compared to $7.2 million in the prior year; as
Highly complementary offering to expand Water Solutions platform, enhance value proposition for customers and provide an additional springboard for growth Strategically expands Pentair's commercial water solutions platform and will accelerate growth within the foodservice industry space Combines two innovative industry leaders in water filtration and ice solutions Increases total water management offering and deployment of smart, connected solutions Enhances Pentair's Everpure commercial filtration solutions and commercial services network to provide high quality water for ice products while enhancing growth in water quality direct-to-customer solutions and services Expected to ad
Welbilt, Inc. (NYSE:WBT) today announced that it has entered into a definitive agreement to sell its Manitowoc® Ice business ("Manitowoc Ice") to Pentair plc (NYSE:PNR) for approximately $1.6 billion in cash, on a cash free and debt free basis, subject to customary post-closing adjustments. Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment and generated sales of approximately $308 million in 2021. Commenting on the transaction, Bill Johnson, Welbilt's President and CEO, said, "We believe that this transaction is a good outcome for both Welbilt and Manitowoc Ice. We are confident that the successful closing of this transaction will pave the wa
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VANCOUVER, BC, Aug. 5, 2021 /PRNewswire/ - Ballard Power Systems (NASDAQ:BLDP) (TSX:BLDP) today announced that, effective August 5, 2021, the Company has appointed Mr. Hubertus Muehlhaeuser to the Company's Board of Directors. Mr. Jim Roche, Chairman of Ballard's Board of Directors said, "We continue to ensure a strong matrix of diverse and complementary skills and experiences on our Board. Hubertus brings a strong background in industrial manufacturing, including commercial vehicles, construction machinery, agricultural machinery, and powertrain technologies. His distinguis