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

The Manitowoc Company, Inc. (NYSE:MTWGet Free Report) has received a consensus recommendation of “Reduce” from the five brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.83.

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

View Our Latest Research Report on MTW

Manitowoc Stock Up 0.1 %

Shares of NYSE MTW opened at $11.81 on Tuesday. The firm’s 50-day simple moving average is $12.73 and its 200 day simple moving average is $14.26. The company has a market cap of $419.74 million, a price-to-earnings ratio of 15.75 and a beta of 1.99. The company has a quick ratio of 0.59, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Manitowoc has a 12-month low of $11.16 and a 12-month high of $19.81.

Manitowoc (NYSE:MTWGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). Manitowoc had a return on equity of 7.33% and a net margin of 1.23%. The firm had revenue of $495.10 million for the quarter, compared to the consensus estimate of $496.93 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts expect that Manitowoc will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manitowoc

Hedge funds and other institutional investors have recently modified their holdings of the company. AJOVista LLC acquired a new stake in shares of Manitowoc during the fourth quarter worth $69,000. Inlet Private Wealth LLC acquired a new position in Manitowoc in the first quarter valued at about $141,000. Allspring Global Investments Holdings LLC raised its stake in Manitowoc by 183.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 7,441 shares in the last quarter. Boston Partners raised its stake in Manitowoc by 22.9% in the first quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Perritt Capital Management Inc. raised its stake in Manitowoc by 50.0% in the third quarter. Perritt Capital Management Inc. now owns 15,000 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Manitowoc (NYSE:MTW)

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