Manitowoc Company Inc (MTW) Receives Average Rating of “Hold” from Analysts

Manitowoc Company Inc (NYSE:MTW) has been given a consensus recommendation of “Hold” by the seventeen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $40.09.

Several research firms have recently weighed in on MTW. JPMorgan Chase & Co. cut shares of Manitowoc from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $30.00 to $29.00 in a report on Monday. Deutsche Bank reduced their price target on shares of Manitowoc from $44.00 to $36.00 and set a “hold” rating for the company in a report on Monday. Stifel Nicolaus reduced their price target on shares of Manitowoc from $48.00 to $42.00 and set a “buy” rating for the company in a report on Monday. Barclays began coverage on shares of Manitowoc in a report on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Robert W. Baird reiterated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a report on Friday, November 24th.

Manitowoc (NYSE MTW) traded up $0.76 during trading on Wednesday, hitting $34.71. 484,372 shares of the stock traded hands, compared to its average volume of 729,307. The firm has a market capitalization of $1,203.28, a PE ratio of 165.24 and a beta of 1.33. Manitowoc has a 12 month low of $21.00 and a 12 month high of $44.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). The company had revenue of $481.50 million during the quarter, compared to analyst estimates of $423.27 million. Manitowoc had a net margin of 0.59% and a negative return on equity of 1.59%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) EPS. equities research analysts forecast that Manitowoc will post 0.54 EPS for the current fiscal year.

In other Manitowoc news, Director Charles David Myers acquired 3,854 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Thomas G. Musial sold 4,476 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total transaction of $151,467.84. Following the completion of the sale, the senior vice president now directly owns 54,319 shares in the company, valued at approximately $1,838,154.96. The disclosure for this sale can be found here. Insiders own 2.82% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in Manitowoc by 343.7% during the third quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock worth $1,200,000 after acquiring an additional 103,289 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Manitowoc by 2.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock worth $5,224,000 after acquiring an additional 12,221 shares in the last quarter. Private Advisor Group LLC raised its position in Manitowoc by 46.4% during the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 10,050 shares in the last quarter. Wells Fargo & Company MN raised its position in Manitowoc by 17.1% during the second quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 22,133 shares in the last quarter. Finally, Van Den Berg Management I Inc. raised its position in Manitowoc by 18.4% during the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after acquiring an additional 278,220 shares in the last quarter.

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About Manitowoc

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc (NYSE:MTW)

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