Analysts Set Manitowoc Food Service, Inc. (WBT) PT at $21.50

Manitowoc Food Service, Inc. (NYSE:WBT) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.50.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday, July 13th. KeyCorp reiterated a “buy” rating and issued a $25.00 target price on shares of Manitowoc Food Service in a research report on Thursday. Dougherty & Co reiterated a “neutral” rating on shares of Manitowoc Food Service in a research report on Thursday, August 17th. Longbow Research assumed coverage on shares of Manitowoc Food Service in a research report on Tuesday. They issued a “neutral” rating for the company. Finally, Citigroup Inc. increased 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.

Shares of Manitowoc Food Service (WBT) traded up 0.27% on Tuesday, reaching $22.18. The company’s stock had a trading volume of 69,065 shares. Manitowoc Food Service has a 1-year low of $14.93 and a 1-year high of $23.46. The stock has a market capitalization of $3.08 billion, a PE ratio of 38.31 and a beta of 2.46. The stock has a 50-day moving average of $19.64 and a 200 day moving average of $19.46.

Manitowoc Food Service (NYSE:WBT) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The business had revenue of $371.10 million during the quarter, compared to the consensus estimate of $367.28 million. Manitowoc Food Service had a net margin of 5.57% and a negative return on equity of 280.03%. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast 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 business’s stock in a transaction 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 in the company, valued at $290,791.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY purchased a new stake in Manitowoc Food Service in the 1st quarter worth approximately $115,000. BlueCrest Capital Management Ltd purchased a new stake in Manitowoc Food Service in the 1st quarter worth approximately $203,000. Teacher Retirement System of Texas purchased a new stake in Manitowoc Food Service in the 1st quarter worth approximately $203,000. Great West Life Assurance Co. Can purchased a new stake in Manitowoc Food Service in the 1st quarter worth approximately $236,000. Finally, UBS Group AG purchased a new stake in Manitowoc Food Service in the 1st quarter worth approximately $247,000. Institutional investors own 87.85% of the company’s stock.

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Manitowoc Food Service Company Profile

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.

Analyst Recommendations for Manitowoc Food Service (NYSE:WBT)

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