Shares of Manitowoc Company Inc (NYSE:MTW) have earned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $30.25.
A number of brokerages have recently issued reports on MTW. ValuEngine raised shares of Manitowoc from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd.
MTW traded up $0.69 during mid-day trading on Tuesday, reaching $18.39. 587,855 shares of the company traded hands, compared to its average volume of 285,521. The firm has a market cap of $655.59 million, a PE ratio of 28.73 and a beta of 1.88. The company has a current ratio of 1.70, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. Manitowoc has a 52-week low of $13.22 and a 52-week high of $29.40.
In other Manitowoc news, CEO Barry Pennypacker sold 12,388 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $16.46, for a total value of $203,906.48. Following the sale, the chief executive officer now owns 136,862 shares in the company, valued at approximately $2,252,748.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron H. Ravenscroft sold 3,191 shares of the business’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $16.48, for a total transaction of $52,587.68. Following the completion of the sale, the executive vice president now owns 20,697 shares in the company, valued at approximately $341,086.56. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new stake in Manitowoc in the 4th quarter worth $28,000. Bank of Montreal Can lifted its stake in Manitowoc by 30.4% in the 4th quarter. Bank of Montreal Can now owns 2,864 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 668 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Manitowoc by 1,041.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,288 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 3,000 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Manitowoc by 406.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,725 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in Manitowoc in the 4th quarter worth $150,000. Institutional investors and hedge funds own 82.39% of the company’s stock.
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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