Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Target Price at $16.83

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus recommendation of “Reduce” from the five analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.83.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. reduced their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Barclays cut their target price on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday. Finally, StockNews.com lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd.

Manitowoc Price Performance

MTW opened at $13.06 on Monday. The company has a 50-day moving average of $13.45 and a 200-day moving average of $14.56. The company has a market capitalization of $463.37 million, a P/E ratio of 11.98 and a beta of 2.04. Manitowoc has a 1-year low of $12.20 and a 1-year high of $19.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Manitowoc (NYSE:MTW) last released its earnings results 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). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The company had revenue of $595.80 million during the quarter, compared to the consensus estimate of $583.90 million. During the same period in the previous year, the firm posted $0.74 EPS. Manitowoc’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts expect that Manitowoc will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Manitowoc by 19.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after buying an additional 823 shares during the period. Swiss National Bank boosted its holdings in shares of Manitowoc by 1.7% during the 3rd quarter. Swiss National Bank now owns 77,250 shares of the industrial products company’s stock worth $1,163,000 after buying an additional 1,300 shares during the period. TCW Group Inc. boosted its holdings in shares of Manitowoc by 1.9% during the 4th quarter. TCW Group Inc. now owns 81,415 shares of the industrial products company’s stock worth $1,359,000 after buying an additional 1,537 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Manitowoc by 8.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,447 shares of the industrial products company’s stock worth $383,000 after buying an additional 1,928 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Manitowoc by 6.1% during the 3rd quarter. Avantax Advisory Services Inc. now owns 35,810 shares of the industrial products company’s stock worth $539,000 after buying an additional 2,071 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

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.