Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) PT at $10.66

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given an average rating of “Reduce” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.66.

Separately, UBS Group lowered their price target on shares of Manitowoc from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th.

Institutional Trading of Manitowoc

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hodges Capital Management Inc. increased its position in shares of Manitowoc by 93.9% during the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after acquiring an additional 225,090 shares during the last quarter. JPMorgan Chase & Co. raised its position in Manitowoc by 84.5% in the fourth quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company’s stock valued at $2,088,000 after purchasing an additional 104,709 shares during the period. Tectonic Advisors LLC lifted its stake in Manitowoc by 103.1% during the fourth quarter. Tectonic Advisors LLC now owns 79,465 shares of the industrial products company’s stock worth $726,000 after purchasing an additional 40,333 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after buying an additional 2,224 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in shares of Manitowoc by 207.9% in the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock valued at $5,379,000 after buying an additional 397,837 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Stock Performance

NYSE:MTW opened at $8.50 on Friday. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.46. The company has a market cap of $301.08 million, a P/E ratio of 5.48 and a beta of 1.79. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $8.69 and its 200-day moving average price is $9.46.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. On average, sell-side analysts forecast that Manitowoc will post 0.5 earnings per share for the current fiscal year.

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.