Manitowoc Food Service, Inc. (NYSE:WBT) – Stock analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for shares of Manitowoc Food Service in a report issued on Monday, according to Zacks Investment Research. KeyCorp analyst J. Picariello now forecasts that the industrial products company will post earnings per share of $0.77 for the year, down from their prior forecast of $0.78. KeyCorp has a “Buy” rating and a $25.00 price target on the stock.
Manitowoc Food Service (NYSE:WBT) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Manitowoc Food Service had a negative return on equity of 2,645.52% and a net margin of 6.14%. The firm had revenue of $380.40 million for the quarter, compared to analyst estimates of $387.05 million. The company’s revenue for the quarter was down .9% compared to the same quarter last year.
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A number of other brokerages have also issued reports on WBT. Longbow Research assumed coverage on shares of Manitowoc Food Service in a research note on Tuesday, October 10th. They set a “neutral” rating on the stock. Citigroup Inc. upped their target price on shares of Manitowoc Food Service from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Zacks Investment Research lowered shares of Manitowoc Food Service from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Dougherty & Co restated a “neutral” rating on shares of Manitowoc Food Service in a research report on Thursday, August 17th. Finally, Robert W. Baird set a $22.00 target price on shares of Manitowoc Food Service and gave the stock a “buy” rating in a research report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.33.
Manitowoc Food Service (WBT) opened at $21.61 on Wednesday. Manitowoc Food Service has a one year low of $17.18 and a one year high of $23.46. The company has a current ratio of 1.35, a quick ratio of 0.79 and a debt-to-equity ratio of 29.38. The stock has a market cap of $3,010.00 and a PE ratio of 30.96.
Several hedge funds have recently added to or reduced their stakes in WBT. Alliancebernstein L.P. acquired a new stake in shares of Manitowoc Food Service in the first quarter valued at approximately $2,731,000. Principal Financial Group Inc. acquired a new stake in shares of Manitowoc Food Service in the first quarter valued at approximately $490,000. Teachers Advisors LLC acquired a new stake in shares of Manitowoc Food Service in the first quarter valued at approximately $2,795,000. California Public Employees Retirement System acquired a new stake in shares of Manitowoc Food Service in the first quarter valued at approximately $4,982,000. Finally, Legal & General Group Plc acquired a new stake in shares of Manitowoc Food Service in the first quarter valued at approximately $1,706,000. Institutional investors and hedge funds own 85.91% of the company’s stock.
In other Manitowoc Food Service news, Director Brian R. Gamache purchased 10,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $19.68 per share, for a total transaction of $196,800.00. Following the completion of the transaction, the director now directly owns 14,776 shares of the company’s stock, valued at $290,791.68. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.67% of the stock is owned by corporate insiders.
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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