Manitowoc (NYSE:MTW) Price Target Cut to $15.00

Manitowoc (NYSE:MTW) had its price objective decreased by JPMorgan Chase & Co. from $17.00 to $15.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

MTW has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on shares of Manitowoc from $17.00 to $16.00 and set an equal weight rating for the company in a research note on Friday, February 16th. StockNews.com cut shares of Manitowoc from a buy rating to a hold rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $17.33.

Manitowoc Stock Up 0.4 %

NYSE:MTW opened at $12.88 on Tuesday. The company’s 50-day simple moving average is $13.66 and its 200-day simple moving average is $14.59. The stock has a market capitalization of $456.98 million, a P/E ratio of 11.82 and a beta of 2.04. 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 has a fifty-two week low of $12.20 and a fifty-two week high of $19.81.

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

Institutional Trading of Manitowoc

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in Manitowoc by 183.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 7,441 shares during the period. Vanguard Group Inc. lifted its stake in Manitowoc by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company’s stock valued at $38,636,000 after acquiring an additional 107,414 shares during the period. Barclays PLC lifted its stake in Manitowoc by 112.8% during the 4th quarter. Barclays PLC now owns 102,221 shares of the industrial products company’s stock valued at $1,705,000 after acquiring an additional 54,192 shares during the period. Voya Investment Management LLC lifted its stake in Manitowoc by 6.8% during the 4th quarter. Voya Investment Management LLC now owns 310,952 shares of the industrial products company’s stock valued at $5,190,000 after acquiring an additional 19,879 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Manitowoc by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 185,967 shares of the industrial products company’s stock valued at $3,104,000 after acquiring an additional 2,996 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.