Manitowoc (NYSE:MTW) Stock Price Expected to Rise, UBS Group Analyst Says

Manitowoc (NYSE:MTW) had its price objective hoisted by UBS Group from $9.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s price objective would indicate a potential downside of 6.50% from the stock’s previous close.

Separately, Robert W. Baird cut their price target on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.86.

Manitowoc Stock Up 2.1%

Shares of NYSE:MTW opened at $11.77 on Friday. Manitowoc has a 52 week low of $7.06 and a 52 week high of $13.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The company’s fifty day moving average is $8.76 and its 200-day moving average is $9.49. The company has a market capitalization of $416.99 million, a PE ratio of 7.59 and a beta of 1.92.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $470.90 million for the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. Equities research analysts predict that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Aaron H. Ravenscroft bought 3,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the acquisition, the chief executive officer now directly owns 690,142 shares in the company, valued at $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently bought and sold shares of MTW. Point72 Asia Singapore Pte. Ltd. bought a new position in Manitowoc in the 4th quarter valued at about $35,000. R Squared Ltd acquired a new stake in shares of Manitowoc in the 4th quarter valued at approximately $66,000. Quantbot Technologies LP boosted its stake in shares of Manitowoc by 20.9% in the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,771 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Manitowoc by 3,309.6% in the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 11,782 shares in the last quarter. 78.66% of the stock is owned by institutional investors.

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.