Manitowoc (NYSE:MTW – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Other analysts have also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Manitowoc from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $14.00 to $17.00 in a report on Monday, May 1st. Citigroup raised their price objective on shares of Manitowoc from $11.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, March 6th. Barclays raised their price objective on shares of Manitowoc from $9.00 to $15.00 in a research report on Thursday, May 4th. The Goldman Sachs Group lowered shares of Manitowoc from a “neutral” rating to a “sell” rating and raised their price objective for the company from $13.00 to $15.00 in a research report on Monday, April 3rd. Finally, Robert W. Baird raised their price objective on shares of Manitowoc from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.56.
Manitowoc Stock Performance
MTW stock opened at $15.24 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.58 and a current ratio of 1.75. The stock has a market cap of $535.53 million, a P/E ratio of -4.84 and a beta of 2.04. The firm has a 50 day simple moving average of $16.25 and a 200 day simple moving average of $13.12. Manitowoc has a 52 week low of $7.53 and a 52 week high of $20.20.
Hedge Funds Weigh In On Manitowoc
A number of institutional investors and hedge funds have recently bought and sold shares of MTW. Bank of Montreal Can bought a new position in Manitowoc during the third quarter worth $3,907,000. Millennium Management LLC boosted its stake in shares of Manitowoc by 2,304.0% in the 2nd quarter. Millennium Management LLC now owns 422,527 shares of the industrial products company’s stock valued at $4,449,000 after purchasing an additional 404,951 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Manitowoc by 671.2% in the 1st quarter. Acadian Asset Management LLC now owns 436,159 shares of the industrial products company’s stock valued at $7,449,000 after purchasing an additional 379,605 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Manitowoc in the 3rd quarter valued at $2,674,000. Finally, Front Street Capital Management Inc. lifted its position in Manitowoc by 14.6% during the 1st quarter. Front Street Capital Management Inc. now owns 2,313,676 shares of the industrial products company’s stock worth $34,890,000 after buying an additional 295,092 shares in the last quarter. Institutional investors own 74.27% of the company’s stock.
Manitowoc Company Profile
The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.
- Get a free copy of the StockNews.com research report on Manitowoc (MTW)
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