The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.86 Consensus PT from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned a consensus recommendation of “Reduce” from the five analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $10.86.

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. UBS Group lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th.

Manitowoc Trading Down 2.8%

Manitowoc stock opened at $10.54 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The firm has a market cap of $373.57 million, a price-to-earnings ratio of 6.80 and a beta of 1.92. Manitowoc has a 1 year low of $7.06 and a 1 year high of $13.46. The firm’s 50 day moving average price is $9.01 and its two-hundred day moving average price is $9.53.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. On average, research analysts predict that Manitowoc will post 0.5 EPS for the current fiscal year.

Insider Activity at Manitowoc

In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the transaction, the chief executive officer now owns 690,142 shares of the company’s stock, valued at approximately $5,990,432.56. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTW. First Eagle Investment Management LLC grew its position in Manitowoc by 207.9% during the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock valued at $5,379,000 after purchasing an additional 397,837 shares in the last quarter. Front Street Capital Management Inc. lifted its stake in Manitowoc by 7.8% in the fourth quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock valued at $30,764,000 after acquiring an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in Manitowoc by 61.9% in the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after acquiring an additional 232,744 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in Manitowoc by 93.9% in the fourth quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after acquiring an additional 225,090 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Manitowoc by 272.9% in the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock valued at $2,064,000 after acquiring an additional 175,879 shares during the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

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.