The Manitowoc Company, Inc. (NYSE:MTW) Given Consensus Recommendation of “Reduce” by Brokerages

The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) has been given a consensus rating of “Hold” by the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.56.

A number of equities analysts have recently issued reports on the company. Citigroup increased their price target on Manitowoc from $11.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, March 6th. Wells Fargo & Company raised Manitowoc from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $14.00 to $17.00 in a research report on Monday, May 1st. The Goldman Sachs Group downgraded Manitowoc from a “neutral” rating to a “sell” rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Monday, April 3rd. Barclays raised their price objective on Manitowoc from $9.00 to $15.00 in a research report on Thursday, May 4th. Finally, Robert W. Baird raised their price objective on Manitowoc from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st.

Institutional Investors Weigh In On Manitowoc

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Manitowoc by 104.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 1,681 shares during the period. UBS Group AG lifted its holdings in shares of Manitowoc by 165.6% during the third quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 3,696 shares during the period. US Bancorp DE lifted its holdings in shares of Manitowoc by 43.6% during the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,146 shares during the period. National Bank of Canada FI acquired a new stake in shares of Manitowoc during the first quarter worth about $60,000. Finally, Castleview Partners LLC acquired a new position in Manitowoc in the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 74.27% of the company’s stock.

Manitowoc Stock Performance

MTW stock opened at $14.95 on Friday. The company has a quick ratio of 0.58, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $13.55. Manitowoc has a twelve month low of $7.53 and a twelve month high of $20.20. The firm has a market cap of $525.34 million, a price-to-earnings ratio of -4.75 and a beta of 2.04.

Manitowoc (NYSE:MTW – Get Rating) last released its earnings results on Tuesday, May 2nd. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.41. Manitowoc had a positive return on equity of 8.98% and a negative net margin of 5.29%. The business had revenue of $508.30 million for the quarter, compared to analyst estimates of $479.97 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Analysts predict that Manitowoc will post 1.1 earnings per share for the current year.

About Manitowoc

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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.