Manitowoc Food Service, Inc. (WBT) Receives Average Recommendation of “Hold” from Analysts
Manitowoc Food Service, Inc. (NYSE:WBT) has earned an average rating of “Hold” from the eight research firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.60.
Several equities research analysts recently weighed in on WBT shares. Citigroup Inc upped their price objective 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 raised shares of Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, July 13th. KeyCorp reissued a “buy” rating and issued a $25.00 target price on shares of Manitowoc Food Service in a report on Thursday, October 12th. Longbow Research initiated coverage on shares of Manitowoc Food Service in a report on Tuesday, October 10th. They issued a “neutral” rating for the company. 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 report on Thursday, August 24th.
Manitowoc Food Service (WBT) opened at $21.99 on Friday. The company has a debt-to-equity ratio of 117.60, a current ratio of 1.31 and a quick ratio of 0.75. The firm has a market cap of $3,017.09, a PE ratio of 32.86, a price-to-earnings-growth ratio of 2.78 and a beta of 2.22.
Manitowoc Food Service (NYSE:WBT) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a net margin of 5.57% and a negative return on equity of 280.03%. The business had revenue of $371.10 million during the quarter, compared to analysts’ expectations of $367.28 million. The company’s quarterly revenue was up .7% compared to the same quarter last year. analysts expect that Manitowoc Food Service will post 0.78 EPS for the current year.
In related news, Director Brian R. Gamache bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $19.68 per share, with a total value of $196,800.00. Following the completion of the acquisition, the director now owns 14,776 shares of the company’s stock, valued at $290,791.68. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.67% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Manitowoc Food Service by 91.3% in the second quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $56,550,000 after buying an additional 1,431,642 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Manitowoc Food Service in the first quarter valued at approximately $1,132,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Manitowoc Food Service in the first quarter valued at approximately $623,000. Credit Suisse AG acquired a new position in shares of Manitowoc Food Service in the first quarter valued at approximately $1,979,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Manitowoc Food Service in the first quarter valued at approximately $115,000. 87.82% of the stock is owned by institutional investors.
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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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