Manitowoc Foodservice Inc. (MFS) Receives New Coverage from Analysts at Seaport Global Securities
Seaport Global Securities started coverage on shares of Manitowoc Foodservice Inc. (NYSE:MFS) in a research note issued to investors on Wednesday morning. The firm issued a buy rating and a $22.00 price target on the stock.
Several other equities analysts also recently commented on MFS. Zacks Investment Research upgraded shares of Manitowoc Foodservice from a sell rating to a hold rating in a research note on Wednesday, November 9th. Barclays PLC upped their price objective on shares of Manitowoc Foodservice from $13.00 to $16.00 and gave the stock an equal weight rating in a research report on Monday, August 15th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $17.75.
Manitowoc Foodservice (NYSE:MFS) traded up 0.28% during midday trading on Wednesday, reaching $17.93. 306,150 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $16.31 and its 200 day moving average is $16.65. The stock has a market cap of $2.48 billion and a P/E ratio of 20.08. Manitowoc Foodservice has a 1-year low of $13.20 and a 1-year high of $18.94.
Manitowoc Foodservice (NYSE:MFS) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The firm earned $384 million during the quarter, compared to analysts’ expectations of $386.60 million. Manitowoc Foodservice had a net margin of 8.38% and a return on equity of 57.49%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts anticipate that Manitowoc Foodservice will post $0.65 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Highwater Wealth Management LLC bought a new position in shares of Manitowoc Foodservice during the second quarter valued at $176,000. Airain ltd acquired a new stake in Manitowoc Foodservice during the third quarter worth approximately $163,000. Cetera Advisor Networks LLC acquired a new stake in Manitowoc Foodservice during the third quarter worth approximately $172,000. Leavell Investment Management Inc. boosted its stake in Manitowoc Foodservice by 7.8% in the third quarter. Leavell Investment Management Inc. now owns 13,833 shares of the company’s stock worth $224,000 after buying an additional 1,000 shares during the last quarter. Finally, Investment Partners Ltd. OH ADV acquired a new stake in Manitowoc Foodservice during the third quarter worth approximately $247,000. Institutional investors own 81.39% of the company’s stock.
About Manitowoc Foodservice
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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