Manitowoc Food Service, Inc. (NYSE:WBT) – Equities researchers at KeyCorp dropped their Q3 2017 EPS estimates for 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 of $0.24 per share for the quarter, down from their prior forecast of $0.25.

Manitowoc Food Service (NYSE:WBT) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $371.10 million during the quarter, compared to analyst estimates of $367.28 million. Manitowoc Food Service’s revenue was up .7% compared to the same quarter last year.

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A number of other equities analysts also recently issued reports on the company. Longbow Research assumed coverage on Manitowoc Food Service in a research note on Tuesday. They issued a “neutral” rating on the stock. Robert W. Baird set a $22.00 price target on Manitowoc Food Service and gave the stock a “buy” rating in a research note on Thursday, August 24th. Dougherty & Co restated a “neutral” rating on shares of Manitowoc Food Service in a research note on Thursday, August 17th. Finally, Zacks Investment Research upgraded Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Saturday, August 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Manitowoc Food Service has a consensus rating of “Buy” and an average target price of $21.40.

Manitowoc Food Service (WBT) opened at 22.20 on Wednesday. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 38.34 and a beta of 2.46. The stock has a 50 day moving average price of $19.64 and a 200-day moving average price of $19.46. Manitowoc Food Service has a 12-month low of $14.93 and a 12-month high of $23.46.

In related news, Director Brian R. Gamache bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were bought 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 owns 14,776 shares of the company’s stock, valued at $290,791.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WBT. Metropolitan Life Insurance Co. NY purchased a new position in Manitowoc Food Service during the first quarter valued at $115,000. Teacher Retirement System of Texas purchased a new position in Manitowoc Food Service during the first quarter valued at $203,000. BlueCrest Capital Management Ltd purchased a new position in Manitowoc Food Service during the first quarter valued at $203,000. Great West Life Assurance Co. Can purchased a new position in Manitowoc Food Service during the first quarter valued at $236,000. Finally, UBS Group AG purchased a new position in Manitowoc Food Service during the first quarter valued at $247,000. Institutional investors own 87.85% of the company’s stock.

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.

Earnings History and Estimates for Manitowoc Food Service (NYSE:WBT)

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