Manitowoc Food Service, Inc. (NYSE:WBT) – Analysts at Seaport Global Securities dropped their Q1 2018 earnings per share estimates for shares of Manitowoc Food Service in a research note issued to investors on Thursday. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $0.12 for the quarter, down from their prior estimate of $0.14. Seaport Global Securities also issued estimates for Manitowoc Food Service’s Q2 2018 earnings at $0.20 EPS.

A number of other equities research analysts also recently issued reports on WBT. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Saturday. Barclays PLC increased their price target on Manitowoc Food Service from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.40.

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Manitowoc Food Service (NYSE:WBT) traded up 0.05% during trading on Monday, hitting $19.65. The company had a trading volume of 75,991 shares. The stock has a 50-day moving average of $19.33 and a 200 day moving average of $19.37. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 33.94 and a beta of 2.28. Manitowoc Food Service has a one year low of $14.93 and a one year high of $21.13.

Manitowoc Food Service (NYSE:WBT) last posted its earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, topping 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 negative return on equity of 280.03% and a net margin of 5.57%. The business’s revenue for the quarter was up .7% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in WBT. Bank of Montreal Can acquired a new stake in Manitowoc Food Service during the first quarter valued at $324,000. DnB Asset Management AS acquired a new stake in Manitowoc Food Service during the first quarter valued at $4,205,000. Nisa Investment Advisors LLC acquired a new stake in Manitowoc Food Service during the first quarter valued at $120,000. Diversified Trust Co acquired a new stake in Manitowoc Food Service during the first quarter valued at $222,000. Finally, Nationwide Fund Advisors acquired a new stake in Manitowoc Food Service during the first quarter valued at $2,180,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.

In other Manitowoc Food Service news, SVP Joel H. Horn sold 1,561 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total transaction of $30,018.03. Following the completion of the sale, the senior vice president now directly owns 3,515 shares in the company, valued at $67,593.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by corporate insiders.

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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