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

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus recommendation of “Reduce” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $10.86.

A number of equities research analysts have weighed in on MTW shares. Robert W. Baird lowered their price objective on Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. UBS Group lifted their price target on Manitowoc from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, May 16th.

Manitowoc Trading Down 0.2%

NYSE:MTW opened at $11.28 on Friday. The company has a current ratio of 1.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $9.89 and its 200-day simple moving average is $9.60. Manitowoc has a 12-month low of $7.06 and a 12-month high of $13.46. The firm has a market cap of $399.80 million, a P/E ratio of 9.02 and a beta of 2.02.

Manitowoc (NYSE:MTW) last issued its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Equities analysts anticipate that Manitowoc will post 0.5 EPS for the current year.

Insider Transactions at Manitowoc

In related news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $8.68 per share, with a total value of $26,040.00. Following the purchase, the chief executive officer now directly owns 690,142 shares in the company, valued at $5,990,432.56. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently made changes to their positions in MTW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Manitowoc in the 4th quarter valued at about $35,000. Quantbot Technologies LP grew its stake in Manitowoc by 20.9% in the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 1,771 shares during the last quarter. LPL Financial LLC grew its stake in Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,030 shares during the last quarter. GAMMA Investing LLC grew its stake in Manitowoc by 3,309.6% in the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 11,782 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Manitowoc in the 4th quarter valued at about $115,000. 78.66% of the stock is 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.