Manitowoc (NYSE:MTW) Given New $15.00 Price Target at JPMorgan Chase & Co.

Manitowoc (NYSE:MTW) had its price target decreased by JPMorgan Chase & Co. from $17.00 to $15.00 in a research report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

Several other research analysts also recently commented on MTW. StockNews.com downgraded Manitowoc from a buy rating to a hold rating in a report on Thursday, February 22nd. Wells Fargo & Company cut their target price on Manitowoc from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $17.33.

Manitowoc Trading Down 3.3 %

NYSE MTW opened at $13.02 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. Manitowoc has a twelve month low of $12.20 and a twelve month high of $19.81. The company has a market cap of $461.95 million, a price-to-earnings ratio of 11.94 and a beta of 2.04. The business’s fifty day moving average is $13.90 and its 200 day moving average is $14.62.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14). The firm had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. As a group, sell-side analysts expect that Manitowoc will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MTW. Tower Research Capital LLC TRC lifted its stake in shares of Manitowoc by 104.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 1,681 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Manitowoc in the 3rd quarter valued at about $38,000. UBS Group AG lifted its stake in shares of Manitowoc by 165.6% in the 3rd quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 3,696 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Manitowoc by 150.0% in the 4th quarter. Point72 Asset Management L.P. now owns 3,000 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 1,800 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Manitowoc by 43.6% in the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,146 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.