Manitowoc Food Service, Inc. (NYSE:WBT) – Stock analysts at KeyCorp decreased their Q3 2017 earnings per share estimates for shares of Manitowoc Food Service in a note issued to investors on Sunday. KeyCorp analyst J. Picariello now expects that the industrial products company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. KeyCorp currently has a “Buy” rating and a $25.00 price target on the stock. KeyCorp also issued estimates for Manitowoc Food Service’s Q4 2017 earnings at $0.25 EPS and FY2017 earnings at $0.78 EPS.
Manitowoc Food Service (NYSE:WBT) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.28 million. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The company’s revenue was up .7% on a year-over-year basis.
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Other equities analysts have also issued research reports about the stock. Robert W. Baird set a $22.00 price target on shares of Manitowoc Food Service and gave the company a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. lifted their price target on shares of Manitowoc Food Service from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Longbow Research began coverage on shares of Manitowoc Food Service in a report on Tuesday, October 10th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Saturday, August 12th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Manitowoc Food Service in a report on Thursday, August 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Manitowoc Food Service has a consensus rating of “Buy” and a consensus target price of $22.29.
Shares of Manitowoc Food Service (NYSE:WBT) opened at 22.04 on Tuesday. Manitowoc Food Service has a 12 month low of $14.93 and a 12 month high of $23.46. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 38.07 and a beta of 2.42. The firm has a 50-day moving average price of $21.79 and a 200-day moving average price of $20.07.
In other Manitowoc Food Service news, Director Brian R. Gamache bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $19.68 per share, with a total value of $196,800.00. Following the purchase, the director now owns 14,776 shares in the company, valued at approximately $290,791.68. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.67% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of Manitowoc Food Service in the 1st quarter valued at $213,092,000. BlackRock Inc. purchased a new position in shares of Manitowoc Food Service in the 1st quarter valued at $100,454,000. Dimensional Fund Advisors LP purchased a new position in shares of Manitowoc Food Service in the 1st quarter valued at $75,247,000. Capital Research Global Investors raised its stake in shares of Manitowoc Food Service by 91.3% in the 2nd quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $56,550,000 after acquiring an additional 1,431,642 shares during the period. Finally, State Street Corp purchased a new position in shares of Manitowoc Food Service in the 1st quarter valued at $32,795,000. 87.85% of the stock is currently owned by institutional investors and hedge funds.
About Manitowoc Food Service
Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.
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