Manitowoc Foodservice Inc. (MFS) Rating Increased to Hold at Zacks Investment Research
Manitowoc Foodservice Inc. (NYSE:MFS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Manitowoc Foodservice, Inc. is a supplier of commercial foodservice equipment. The Company provides ranges, griddles, grills, combi ovens, convection ovens, conveyor ovens, induction cookers, steam jacketed kettles and steamers. Manitowoc Foodservice, Inc. is based in New Port Richey, FL. “
Separately, Barclays PLC increased their price target on shares of Manitowoc Foodservice from $13.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, August 15th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Manitowoc Foodservice has a consensus rating of “Hold” and an average target price of $17.14.
Shares of Manitowoc Foodservice (NYSE:MFS) opened at 17.73 on Wednesday. The company has a market capitalization of $2.43 billion and a P/E ratio of 17.49. Manitowoc Foodservice has a 52-week low of $13.20 and a 52-week high of $18.94. The firm has a 50-day moving average of $16.19 and a 200 day moving average of $16.57.
Manitowoc Foodservice (NYSE:MFS) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The firm earned $384 million during the quarter, compared to analyst estimates of $386.60 million. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts anticipate that Manitowoc Foodservice will post $0.65 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC increased its stake in shares of Manitowoc Foodservice by 65.6% in the third quarter. Citadel Advisors LLC now owns 42,258 shares of the company’s stock valued at $685,000 after buying an additional 16,745 shares during the period. Morgan Stanley increased its stake in shares of Manitowoc Foodservice by 17.8% in the third quarter. Morgan Stanley now owns 3,000,880 shares of the company’s stock valued at $48,674,000 after buying an additional 453,124 shares during the period. Principal Financial Group Inc. increased its stake in shares of Manitowoc Foodservice by 7.7% in the third quarter. Principal Financial Group Inc. now owns 879,532 shares of the company’s stock valued at $14,266,000 after buying an additional 63,005 shares during the period. Howard Hughes Medical Institute increased its stake in shares of Manitowoc Foodservice by 6.6% in the third quarter. Howard Hughes Medical Institute now owns 96,768 shares of the company’s stock valued at $1,570,000 after buying an additional 5,987 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Manitowoc Foodservice by 3.1% in the third quarter. Northern Trust Corp now owns 571,692 shares of the company’s stock valued at $9,273,000 after buying an additional 17,352 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Manitowoc Foodservice Company Profile
Manitowoc Foodservice, Inc is a commercial foodservice equipment company. The Company designs, manufactures and services an integrated portfolio of hot and cold category products. The Company operates through three segments: Americas, EMEA and APAC. The Americas segment includes the United States, Canada and Latin America.
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