The Manitowoc Company, Inc. (NYSE:MTW) Receives Average Rating of “Reduce” from Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have received a consensus rating of “Reduce” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.47.

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

Institutional Investors Weigh In On Manitowoc

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 1,516 shares during the last quarter. Boston Partners grew its holdings in Manitowoc by 22.9% during the 1st quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 2,874 shares during the period. CWM LLC raised its position in shares of Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 1,482 shares in the last quarter. Strong Tower Advisory Services acquired a new position in shares of Manitowoc in the 2nd quarter valued at about $173,000. Finally, TCW Group Inc. boosted its position in shares of Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock valued at $4,683,000 after purchasing an additional 160,601 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Performance

NYSE:MTW opened at $10.58 on Tuesday. The stock has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $10.59. The stock has a market cap of $371.68 million, a P/E ratio of -39.18 and a beta of 1.84. Manitowoc has a 1-year low of $8.50 and a 1-year high of $17.65. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last posted its earnings results 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). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The firm had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts anticipate that Manitowoc will post 0.46 earnings per share for the current 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.