FY2018 EPS Estimates for Manitowoc Food Service, Inc. (WBT) Lifted by Dougherty & Co
Manitowoc Food Service, Inc. (NYSE:WBT) – Dougherty & Co raised their FY2018 earnings estimates for Manitowoc Food Service in a research note issued on Wednesday. Dougherty & Co analyst J. Fisher now anticipates that the industrial products company will post earnings per share of $0.97 for the year, up from their prior forecast of $0.93. Dougherty & Co has a “Neutral” rating on the stock.
Other analysts also recently issued research reports about the company. Robert W. Baird set a $22.00 target price on Manitowoc Food Service and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Manitowoc Food Service currently has a consensus rating of “Buy” and an average price target of $21.40.
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Manitowoc Food Service (WBT) traded down 0.13% on Thursday, hitting $22.33. The stock had a trading volume of 678,339 shares. Manitowoc Food Service has a 1-year low of $14.93 and a 1-year high of $22.33. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 38.57 and a beta of 2.22. The company has a 50-day moving average price of $19.64 and a 200-day moving average price of $19.46.
Manitowoc Food Service (NYSE:WBT) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The company had revenue of $371.10 million during the quarter, compared to the consensus estimate of $367.28 million. The company’s quarterly revenue was up .7% compared to the same quarter last year.
In other news, Director Brian R. Gamache bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $19.68 per share, for a total transaction of $196,800.00. Following the transaction, the director now directly owns 14,776 shares of the company’s stock, valued at approximately $290,791.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.67% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado purchased a new position in Manitowoc Food Service in the 1st quarter worth approximately $625,000. Baird Financial Group Inc. purchased a new position in Manitowoc Food Service in the 1st quarter worth approximately $234,000. State of Wisconsin Investment Board purchased a new position in Manitowoc Food Service in the 1st quarter worth approximately $9,315,000. Bank of New York Mellon Corp purchased a new position in Manitowoc Food Service in the 1st quarter worth approximately $9,887,000. Finally, Russell Investments Group Ltd. purchased a new position in Manitowoc Food Service in the 1st quarter worth approximately $3,956,000. 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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