The Manitowoc Company, Inc. (NYSE:MTW) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTWGet Free Report) have been given an average rating of “Reduce” by the six analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.47.

A number of brokerages have recently commented on MTW. The Goldman Sachs Group reduced their target price on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Barclays reduced their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird reduced their target price on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st.

Get Our Latest Stock Report on Manitowoc

Institutional Trading of Manitowoc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Manitowoc by 88.1% in the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,327 shares during the last quarter. CWM LLC grew its position in Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after buying an additional 1,482 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Manitowoc by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after buying an additional 1,516 shares during the last quarter. Point72 Asset Management L.P. grew its position in Manitowoc by 63.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,828 shares during the last quarter. Finally, Goldstein Advisors LLC grew its position in Manitowoc by 14.0% in the 2nd quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock valued at $188,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Performance

Shares of NYSE MTW opened at $10.71 on Friday. The company’s fifty day moving average price is $9.64 and its 200 day moving average price is $10.83. Manitowoc has a 1 year low of $8.50 and a 1 year high of $17.65. The company has a market capitalization of $376.24 million, a PE ratio of -39.67 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97.

Manitowoc (NYSE:MTWGet Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The company had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, research analysts predict that Manitowoc will post 0.46 earnings per share for the current year.

Manitowoc Company Profile

(Get Free Report

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.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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