The Manitowoc Company, Inc. (NYSE:MTW) Receives Average Recommendation of “Reduce” from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned an average recommendation of “Reduce” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.29.

Several analysts have recently issued reports on MTW shares. StockNews.com lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Wells Fargo & Company reduced their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 16th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd purchased a new stake in shares of Manitowoc during the 3rd quarter worth approximately $38,000. Point72 Asset Management L.P. lifted its stake in Manitowoc by 150.0% in the fourth quarter. Point72 Asset Management L.P. now owns 3,000 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 1,800 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Manitowoc by 104.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 1,681 shares during the period. Castleview Partners LLC purchased a new stake in Manitowoc in the first quarter worth $61,000. Finally, US Bancorp DE raised its stake in shares of Manitowoc by 43.6% in the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,146 shares during the period. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

Shares of MTW opened at $14.14 on Friday. The firm has a market capitalization of $501.69 million, a P/E ratio of 12.97 and a beta of 2.04. Manitowoc has a 52 week low of $12.20 and a 52 week high of $19.81. The stock has a 50 day moving average price of $14.58 and a two-hundred day moving average price of $14.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14). The company had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $583.90 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Equities analysts forecast that Manitowoc will post 1.29 earnings per share for the current fiscal year.

Manitowoc Company Profile

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.