The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.86 Average Target Price from Brokerages

The Manitowoc Company, Inc. (NYSE:MTW) has been given an average recommendation of “Reduce” by the five brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.86.

MTW has been the topic of a number of analyst reports. UBS Group lifted their price target on Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Robert W. Baird decreased their price target on Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th.

Manitowoc Stock Performance

NYSE:MTW opened at $12.31 on Wednesday. The business has a 50 day moving average of $11.66 and a 200 day moving average of $10.04. The company has a market capitalization of $436.27 million, a price-to-earnings ratio of 9.85 and a beta of 2.03. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The company had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $479.39 million. Manitowoc had a return on equity of 0.63% and a net margin of 2.09%. Manitowoc’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, sell-side analysts predict that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other Manitowoc news, CEO Aaron H. Ravenscroft bought 3,000 shares of Manitowoc stock in a transaction dated 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 completion of the purchase, the chief executive officer owned 690,142 shares of the company’s stock, valued at approximately $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Manitowoc in the fourth quarter worth $35,000. Quantbot Technologies LP grew its stake in Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 1,771 shares during the period. LPL Financial LLC grew its stake in Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,030 shares during the period. GAMMA Investing LLC grew its stake in Manitowoc by 3,309.6% in the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 11,782 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Manitowoc in the first quarter worth $112,000. 78.66% of the stock is owned by hedge funds and other 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.