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

The Manitowoc Company, Inc. (NYSE:MTW) has been given an average rating of “Reduce” by the six ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $12.47.

A number of equities analysts have recently weighed in on MTW shares. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird dropped their price objective on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently made changes to their positions in MTW. Geode Capital Management LLC boosted its position in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 2,224 shares during the period. Hodges Capital Management Inc. bought a new stake in Manitowoc in the 3rd quarter valued at $2,305,000. Jane Street Group LLC boosted its stake in Manitowoc by 103.0% in the 3rd quarter. Jane Street Group LLC now owns 81,647 shares of the industrial products company’s stock valued at $785,000 after purchasing an additional 41,427 shares during the period. State Street Corp grew its holdings in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after buying an additional 64,101 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Manitowoc during the 3rd quarter worth $148,000. Institutional investors own 78.66% of the company’s stock.

Manitowoc Trading Down 0.2 %

NYSE MTW opened at $10.19 on Tuesday. Manitowoc has a 12 month low of $8.50 and a 12 month high of $17.65. The stock has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $10.49. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $357.80 million, a PE ratio of -37.72 and a beta of 1.83.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%. The company had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Research analysts forecast that Manitowoc will post 0.46 EPS for the current year.

About Manitowoc

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.