Manitowoc (NYSE:MTW) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Manitowoc (NYSE:MTW) had its price target decreased by The Goldman Sachs Group from $15.00 to $13.00 in a report released on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the industrial products company’s stock.

Several other equities analysts also recently weighed in on the company. UBS Group decreased their target price on Manitowoc from $18.00 to $14.50 and set a neutral rating on the stock in a research report on Wednesday, June 12th. JPMorgan Chase & Co. decreased their target price on Manitowoc from $14.00 to $12.50 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, Barclays decreased their target price on Manitowoc from $15.00 to $12.00 and set an underweight rating on the stock in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $15.75.

Manitowoc Stock Down 0.1 %

Shares of MTW opened at $11.00 on Thursday. The company has a current ratio of 1.77, a quick ratio of 0.59 and a debt-to-equity ratio of 0.63. Manitowoc has a 12 month low of $10.01 and a 12 month high of $19.81. The stock’s 50 day moving average is $11.60 and its two-hundred day moving average is $13.43. The firm has a market cap of $390.94 million, a P/E ratio of 14.67 and a beta of 1.91.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $495.10 million during the quarter, compared to analysts’ expectations of $496.93 million. Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 EPS. Analysts predict that Manitowoc will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Manitowoc by 97.0% in the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,482 shares during the period. Boston Partners raised its position in Manitowoc by 22.9% in the first quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 2,874 shares during the period. Price T Rowe Associates Inc. MD raised its position in Manitowoc by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after purchasing an additional 1,516 shares during the period. Acadian Asset Management LLC raised its position in Manitowoc by 4.3% in the first quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock valued at $6,172,000 after purchasing an additional 18,181 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Manitowoc in the first quarter valued at $245,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

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.