Welbilt, Inc. (WBT - Free Report) , on Apr 4, signed a strategic partnership deal with the Chinese smart convenience store — Xiaomi Inc. (Xiaomi) — and cooking service supply chain company — Youle — for creating small footprint, high-output kitchens for Xiaomi’s innovative stores. Its shares gained 2.2%, closing the trading session at $19.67 per share on Apr 5.
Over the last month, Welbilt’s shares inched up 1%, as against the 1.7% loss incurred by the industry.
XiaoMai stores are intelligent self-service box-form stores placed at various public locations of China like commercial areas, travel terminals and communities. These stores are tailored for consumers opting for freshness, quality and variety.
Per the aforementioned agreement, XiaoMai will launch Welbilt’s premium Merrychef eikon high-speed ovens in its stores. The company believes these ovens will be an integral component of the automated and connected kitchens of its stores. In the upcoming three years, XiaoMai plans to include these ovens in all new stores across China.
Moreover, under the agreement, Welbilt and Youle will develop artificial intelligent solutions that will improve the connectivity of XiaoMai’s stores which are usually unmanned and often situated in remote areas.
Zacks Rank & Key Picks
Troubled with challenging end-market conditions, Welbilt currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space are listed below:
Kawasaki Heavy Industries Ltd. (KWHIY - Free Report) flaunts a Zacks Rank of 1 (Strong Buy). The company’s earnings per share (EPS) are projected to be up 21.6% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dover Corporation (DOV - Free Report) carries a Zacks Rank #2 (Buy). The company’s EPS is estimated to rise 13% over the next three to five years.
EnPro Industries (NPO - Free Report) is another Zacks #2 Ranked company. Its EPS is predicted to grow 22.3% during the same time frame.
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