The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.67 Consensus PT from Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned an average recommendation of “Reduce” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $10.25.

A number of equities research analysts recently weighed in on MTW shares. Robert W. Baird reduced their price objective on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company initiated coverage on Manitowoc in a report on Thursday. They set an “underweight” rating and a $9.00 price target on the stock. Barclays raised their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Manitowoc from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MTW. Quantbot Technologies LP bought a new position in shares of Manitowoc during the third quarter worth about $47,000. Tower Research Capital LLC TRC raised its holdings in Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 2,575 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Manitowoc during the 2nd quarter worth approximately $84,000. CWM LLC lifted its position in shares of Manitowoc by 669.9% in the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 6,377 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Manitowoc in the 2nd quarter valued at $105,000. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Price Performance

MTW stock opened at $11.09 on Thursday. The company has a 50 day simple moving average of $10.54 and a 200 day simple moving average of $10.94. The stock has a market cap of $393.23 million, a price-to-earnings ratio of 8.87 and a beta of 2.15. Manitowoc has a 1 year low of $7.06 and a 1 year high of $13.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68.

Manitowoc (NYSE:MTW) last issued its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. The company had revenue of $354.30 million during the quarter. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. Research analysts anticipate that Manitowoc will post 0.5 EPS 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.