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

The Manitowoc Company, Inc. (NYSE:MTW) has been given a consensus recommendation of “Reduce” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.47.

Several equities research analysts recently issued reports on the company. Robert W. Baird dropped their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, October 14th.

Hedge Funds Weigh In On Manitowoc

Large investors have recently made changes to their positions in the business. Front Street Capital Management Inc. increased its holdings in Manitowoc by 8.4% in the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after buying an additional 217,389 shares during the last quarter. State Street Corp grew its position in Manitowoc by 8.1% in the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after acquiring an additional 64,101 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Manitowoc by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 2,224 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Manitowoc by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock valued at $7,447,000 after purchasing an additional 9,758 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after purchasing an additional 140,042 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Down 2.0 %

Shares of NYSE MTW opened at $8.77 on Friday. The stock has a fifty day moving average price of $9.96 and a 200 day moving average price of $10.24. The company has a market cap of $308.06 million, a P/E ratio of -32.48 and a beta of 1.83. Manitowoc has a 12-month low of $8.50 and a 12-month 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) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). The firm 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 company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Research analysts anticipate that Manitowoc will post 0.46 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.