StockNews.com Upgrades Manitowoc (NYSE:MTW) to “Hold”

Manitowoc (NYSE:MTW) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

MTW has been the subject of a number of other research reports. Robert W. Baird cut their price target on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group cut their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. increased 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. Finally, Barclays cut their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.47.

Manitowoc Stock Down 4.7 %

Manitowoc stock opened at $8.90 on Friday. Manitowoc has a twelve month low of $8.50 and a twelve month high of $17.65. The stock has a 50 day moving average of $9.66 and a two-hundred day moving average of $10.91. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.18). The business had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.49 million. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.41%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. As a group, research analysts expect that Manitowoc will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently added to or reduced their stakes in MTW. Isthmus Partners LLC increased its holdings in Manitowoc by 1.8% during the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 3,767 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Manitowoc during the second quarter worth about $26,000. US Bancorp DE grew its holdings in shares of Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after buying an additional 1,327 shares in the last quarter. CWM LLC grew its holdings in shares of Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after buying an additional 1,482 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Manitowoc during the third quarter worth about $51,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

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.