Trading Report: The Manitowoc Foodservice Inc. (MFS) Cut to Sell at Zacks Investment Research

The Manitowoc Foodservice Inc. (MFS) Cut to Sell at Zacks Investment Research

Manitowoc Foodservice Inc. (NYSE:MFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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. “

MFS has been the topic of several other research reports. Barclays PLC upped their price target on Manitowoc Foodservice from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, August 15th. William Blair raised Manitowoc Foodservice from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.14.

Manitowoc Foodservice (NYSE:MFS) opened at 16.38 on Tuesday. Manitowoc Foodservice has a 1-year low of $13.20 and a 1-year high of $18.94. The stock has a market cap of $2.25 billion and a PE ratio of 16.15. The firm’s 50-day moving average price is $16.35 and its 200 day moving average price is $16.49.

Manitowoc Foodservice (NYSE:MFS) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.04. The business earned $368.40 million during the quarter, compared to the consensus estimate of $379 million. Equities research analysts expect that Manitowoc Foodservice will post $0.65 EPS for the current year.

An institutional investor recently bought a new position in Manitowoc Foodservice stock. Highwater Wealth Management LLC bought a new stake in shares of Manitowoc Foodservice Inc. (NYSE:MFS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $176,000. Manitowoc Foodservice accounts for 9.8% of Highwater Wealth Management LLC’s portfolio, making the stock its 5th largest position. 80.86% of the stock is owned by institutional investors.

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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