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

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus recommendation of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.47.

MTW has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research report on Friday, August 9th. Robert W. Baird decreased their price target on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Barclays dropped their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. increased 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. Finally, StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Manitowoc Stock Up 0.9 %

MTW stock opened at $10.67 on Friday. 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 firm has a market cap of $374.66 million, a PE ratio of -39.50 and a beta of 1.84. Manitowoc has a 1 year low of $8.50 and a 1 year high of $17.65. The company has a fifty day simple moving average of $9.76 and a 200 day simple moving average of $10.76.

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

Institutional Trading of Manitowoc

A number of hedge funds have recently modified their holdings of MTW. Isthmus Partners LLC raised its stake in shares of Manitowoc by 1.8% in the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 3,767 shares in the last quarter. Innealta Capital LLC bought a new stake in Manitowoc in the 2nd quarter valued at $26,000. US Bancorp DE raised its stake in shares of Manitowoc by 88.1% in the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,327 shares in the last quarter. CWM LLC lifted its holdings in shares of Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 1,482 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Manitowoc during the 3rd quarter valued at about $51,000. 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.