Manitowoc Sees Unusually Large Options Volume (NYSE:MTW)

Manitowoc Company Inc (NYSE:MTW) was the recipient of some unusual options trading on Thursday. Investors purchased 1,488 put options on the company. This is an increase of 842% compared to the average daily volume of 158 put options.

A number of brokerages recently issued reports on MTW. Royal Bank of Canada reissued a “hold” rating and issued a $20.00 target price on shares of Manitowoc in a research report on Monday, January 20th. Zacks Investment Research cut Manitowoc from a “hold” rating to a “strong sell” rating and set a $14.00 target price for the company. in a research report on Wednesday. ValuEngine raised Manitowoc from a “strong sell” rating to a “sell” rating in a research report on Friday, January 10th. Goldman Sachs Group raised Manitowoc from a “sell” rating to a “buy” rating and upped their target price for the company from $12.00 to $18.00 in a research report on Friday, November 8th. Finally, Citigroup raised Manitowoc from a “sell” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $14.00 in a research report on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.67.

Shares of NYSE MTW traded up $0.66 during trading hours on Friday, reaching $13.61. The stock had a trading volume of 52,798 shares, compared to its average volume of 424,947. The firm has a market cap of $446.46 million, a price-to-earnings ratio of 10.39, a PEG ratio of 0.84 and a beta of 2.27. The company has a current ratio of 1.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.55. Manitowoc has a fifty-two week low of $10.49 and a fifty-two week high of $19.77. The firm has a 50-day moving average of $15.74 and a 200-day moving average of $14.71.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 6th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Manitowoc had a return on equity of 11.20% and a net margin of 2.54%. The firm had revenue of $463.40 million during the quarter, compared to analysts’ expectations of $493.31 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue was down 10.1% on a year-over-year basis. On average, equities analysts predict that Manitowoc will post 1.5 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Front Street Capital Management Inc. lifted its position in Manitowoc by 3.8% during the 4th quarter. Front Street Capital Management Inc. now owns 1,210,330 shares of the industrial products company’s stock worth $21,181,000 after acquiring an additional 44,572 shares during the period. Lodge Hill Capital LLC lifted its position in Manitowoc by 23.2% during the 4th quarter. Lodge Hill Capital LLC now owns 505,000 shares of the industrial products company’s stock worth $8,838,000 after acquiring an additional 95,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Manitowoc by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 364,231 shares of the industrial products company’s stock worth $6,375,000 after acquiring an additional 41,883 shares during the period. Daiwa Securities Group Inc. lifted its position in Manitowoc by 56.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 171,750 shares of the industrial products company’s stock worth $2,147,000 after acquiring an additional 62,300 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Manitowoc by 74.6% during the 4th quarter. Russell Investments Group Ltd. now owns 128,846 shares of the industrial products company’s stock worth $2,253,000 after acquiring an additional 55,041 shares during the period. 76.70% of the stock is owned by institutional investors.

Manitowoc Company Profile

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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