Manitowoc Food Service, Inc. (NYSE:WBT) – Research analysts at KeyCorp reduced their Q3 2017 EPS estimates for shares of Manitowoc Food Service in a report issued on Sunday. KeyCorp analyst J. Picariello now forecasts that the industrial products company will post earnings of $0.23 per share for the quarter, down from their previous estimate of $0.24. KeyCorp has a “Buy” rating and a $25.00 price target on the stock. KeyCorp also issued estimates for Manitowoc Food Service’s Q4 2017 earnings at $0.25 EPS and FY2017 earnings at $0.78 EPS.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Manitowoc Food Service from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup Inc. increased their price target 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. Longbow Research assumed coverage on shares of Manitowoc Food Service in a research report on Tuesday, October 10th. They set a “neutral” rating on the stock. Robert W. Baird set a $22.00 price target on shares of Manitowoc Food Service and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Manitowoc Food Service in a research report on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.29.

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Shares of Manitowoc Food Service (NYSE:WBT) opened at 21.78 on Tuesday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 37.62 and a beta of 2.46. The company’s 50-day moving average is $21.91 and its 200-day moving average is $20.11. Manitowoc Food Service has a one year low of $14.93 and a one year high of $23.46.

Manitowoc Food Service (NYSE:WBT) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $371.10 million during the quarter, compared to analyst estimates of $367.28 million. The business’s revenue was up .7% compared to the same quarter last year.

In other news, Director Brian R. Gamache bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $19.68 per share, for a total transaction of $196,800.00. Following the completion of the purchase, the director now owns 14,776 shares of the company’s stock, valued at $290,791.68. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

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

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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