Dougherty & Co Reiterates Neutral Rating for Manitowoc Food Service, Inc. (WBT)

Manitowoc Food Service, Inc. (NYSE:WBT)‘s stock had its “neutral” rating reaffirmed by stock analysts at Dougherty & Co in a research report issued on Thursday.

WBT has been the topic of a number of other reports. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Friday, April 28th. Barclays PLC lifted their price objective on Manitowoc Food Service from $19.00 to $20.00 and gave the company 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 company has an average rating of “Buy” and an average price target of $21.40.

Shares of Manitowoc Food Service (WBT) traded down 0.10% during midday trading on Thursday, hitting $19.67. 335,249 shares of the stock were exchanged. Manitowoc Food Service has a 52-week low of $14.93 and a 52-week high of $21.13. The firm’s 50 day moving average price is $19.42 and its 200-day moving average price is $19.38. The stock has a market cap of $2.73 billion, a P/E ratio of 33.97 and a beta of 2.28.

Manitowoc Food Service (NYSE:WBT) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The firm had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.28 million. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Manitowoc Food Service will post $0.78 earnings per share for the current fiscal year.

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In related news, SVP Joel H. Horn sold 1,561 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total value of $30,018.03. Following the transaction, the senior vice president now directly owns 3,515 shares of the company’s stock, valued at approximately $67,593.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of WBT. Metropolitan Life Insurance Co. NY acquired a new position in Manitowoc Food Service during the first quarter worth approximately $115,000. Nisa Investment Advisors LLC purchased a new stake in shares of Manitowoc Food Service during the first quarter valued at about $120,000. Teacher Retirement System of Texas purchased a new stake in shares of Manitowoc Food Service during the first quarter valued at about $203,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Manitowoc Food Service during the first quarter valued at about $203,000. Finally, Jacobus Wealth Management Inc. purchased a new stake in shares of Manitowoc Food Service during the first quarter valued at about $207,000. 87.40% of the stock is currently owned by institutional investors.

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.

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