Manitowoc (MTW) Trading Down 5.5%

Shares of Manitowoc Company Inc (NYSE:MTW) were down 5.5% during mid-day trading on Friday . The stock traded as low as $18.25 and last traded at $18.74. Approximately 523,648 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 557,442 shares. The stock had previously closed at $19.83.

Several analysts have issued reports on MTW shares. Zacks Investment Research upgraded shares of Manitowoc from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a research report on Tuesday, July 10th. Goldman Sachs Group lowered shares of Manitowoc from a “neutral” rating to a “sell” rating in a research report on Monday, July 16th. ValuEngine lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Seaport Global Securities set a $31.00 price target on shares of Manitowoc and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Citigroup decreased their price target on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.92.

The firm has a market capitalization of $665.94 million, a P/E ratio of 38.24 and a beta of 1.62. The company has a current ratio of 1.65, a quick ratio of 0.73 and a debt-to-equity ratio of 0.40.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. The company had revenue of $495.30 million during the quarter, compared to the consensus estimate of $458.03 million. Manitowoc had a net margin of 2.53% and a return on equity of 2.77%. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. On average, equities analysts predict that Manitowoc Company Inc will post 0.52 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in shares of Manitowoc during the 2nd quarter worth about $269,000. Gamco Investors INC. ET AL bought a new position in shares of Manitowoc during the 3rd quarter worth about $256,000. Fox Run Management L.L.C. bought a new position in Manitowoc during the 2nd quarter valued at about $291,000. First Trust Advisors LP bought a new position in Manitowoc during the 2nd quarter valued at about $346,000. Finally, Stifel Financial Corp lifted its holdings in Manitowoc by 64.7% during the 1st quarter. Stifel Financial Corp now owns 13,383 shares of the industrial products company’s stock valued at $380,000 after purchasing an additional 5,258 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Manitowoc Company Profile (NYSE:MTW)

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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