Manitowoc Company, Inc. (The) (MTW) Given “Hold” Rating at SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their hold rating on shares of Manitowoc Company, Inc. (The) (NYSE:MTW) in a report issued on Friday morning. SunTrust Banks, Inc. currently has a $7.00 target price on the industrial products company’s stock.

A number of other research firms also recently issued reports on MTW. BidaskClub downgraded shares of Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a report on Wednesday, July 19th. Deutsche Bank AG reaffirmed a hold rating and set a $6.25 price objective on shares of Manitowoc Company, Inc. (The) in a report on Tuesday, July 4th. Citigroup Inc. lifted their price objective on shares of Manitowoc Company, Inc. (The) from $8.50 to $10.00 and gave the stock a neutral rating in a report on Friday, October 13th. ValuEngine raised shares of Manitowoc Company, Inc. (The) from a sell rating to a hold rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Manitowoc Company, Inc. (The) from a hold rating to a buy rating and set a $9.00 price objective on the stock in a report on Monday, September 11th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Manitowoc Company, Inc. (The) currently has an average rating of Hold and an average target price of $8.19.

Shares of Manitowoc Company, Inc. (MTW) traded up 3.10% during mid-day trading on Friday, reaching $9.31. 1,093,665 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $8.80 and its 200 day moving average price is $6.96. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $9.97. The company’s market cap is $1.31 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million for the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. On average, equities research analysts predict that Manitowoc Company, Inc. will post ($0.14) EPS for the current year.

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Several large investors have recently modified their holdings of MTW. Bank of New York Mellon Corp boosted its holdings in shares of Manitowoc Company, Inc. (The) by 6.6% in the 1st quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Manitowoc Company, Inc. (The) in the 1st quarter worth about $161,000. Ameriprise Financial Inc. boosted its holdings in shares of Manitowoc Company, Inc. (The) by 8.7% in the 1st quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,117 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Manitowoc Company, Inc. (The) by 704.5% in the 1st quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock worth $130,000 after buying an additional 20,056 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Manitowoc Company, Inc. (The) in the 1st quarter worth about $213,000. 80.94% of the stock is currently owned by institutional investors.

About Manitowoc Company, Inc. (The)

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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