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

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus rating of “Reduce” from the five ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $10.50.

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company restated an “underweight” rating and set a $10.00 target price (up previously from $9.00) on shares of Manitowoc in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Manitowoc in a report on Monday, December 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in Manitowoc in the 3rd quarter valued at about $47,000. Tower Research Capital LLC TRC raised its stake in shares of Manitowoc by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 2,575 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Manitowoc in the second quarter valued at approximately $84,000. CWM LLC boosted its holdings in shares of Manitowoc by 669.9% in the second quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 6,377 shares during the period. Finally, AlphaQuest LLC bought a new position in Manitowoc in the second quarter worth approximately $105,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Stock Performance

NYSE MTW opened at $13.13 on Tuesday. The business’s 50 day moving average price is $12.50 and its 200-day moving average price is $11.43. Manitowoc has a fifty-two week low of $7.06 and a fifty-two week high of $14.32. The company has a market cap of $465.86 million, a P/E ratio of 8.26 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 2.14.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Manitowoc had a return on equity of 0.87% and a net margin of 2.63%.The firm had revenue of $553.40 million for the quarter, compared to analysts’ expectations of $550.00 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Manitowoc will post 0.5 earnings per share for the current year.

About Manitowoc

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.