Manitowoc (NYSE:MTW) Price Target Lowered to $10.00 at Robert W. Baird

Manitowoc (NYSE:MTW) had its target price decreased by Robert W. Baird from $11.00 to $10.00 in a report issued on Monday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Barclays raised their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Manitowoc Stock Performance

NYSE MTW opened at $10.20 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.90 and a debt-to-equity ratio of 0.59. Manitowoc has a 52-week low of $7.06 and a 52-week high of $13.61. The business’s 50-day moving average price is $12.12 and its 200 day moving average price is $10.42. The firm has a market cap of $361.31 million, a P/E ratio of 8.16 and a beta of 2.07.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.12). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%. The company had revenue of $539.50 million for the quarter, compared to analysts’ expectations of $580.18 million. During the same period in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts expect that Manitowoc will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds and other institutional investors have recently modified their holdings of MTW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Manitowoc during the 4th quarter valued at approximately $35,000. CWM LLC lifted its position in shares of Manitowoc by 669.9% during the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock valued at $88,000 after acquiring an additional 6,377 shares during the period. LPL Financial LLC lifted its position in shares of Manitowoc by 10.0% during 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 period. GAMMA Investing LLC lifted its position in shares of Manitowoc by 3,309.6% during 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 period. Finally, AlphaQuest LLC acquired a new stake in shares of Manitowoc during the 2nd quarter valued at approximately $105,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.