Analysts Set Manitowoc Company, Inc. (The) (MTW) Price Target at $8.66

Manitowoc Company, Inc. (The) (NYSE:MTW) has been given a consensus recommendation of “Hold” by the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.81.

MTW has been the subject of a number of recent analyst reports. BidaskClub downgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $7.00 price target on shares of Manitowoc Company, Inc. (The) in a report on Friday, October 27th. Stifel Nicolaus lifted their price target on Manitowoc Company, Inc. (The) from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Manitowoc Company, Inc. (The) in a report on Friday. Finally, Citigroup Inc. lifted their price target on Manitowoc Company, Inc. (The) from $8.50 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 13th.

Several institutional investors have recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in shares of Manitowoc Company, Inc. (The) in the 3rd quarter valued at about $839,000. JPMorgan Chase & Co. lifted its holdings in shares of Manitowoc Company, Inc. (The) by 6,356.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 241,932 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 238,185 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Manitowoc Company, Inc. (The) by 50.0% in the 3rd quarter. Legal & General Group Plc now owns 59,156 shares of the industrial products company’s stock valued at $533,000 after purchasing an additional 19,707 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Manitowoc Company, Inc. (The) by 8.1% in the 3rd quarter. American International Group Inc. now owns 85,512 shares of the industrial products company’s stock valued at $770,000 after purchasing an additional 6,393 shares during the last quarter. Finally, Cipher Capital LP purchased a new stake in shares of Manitowoc Company, Inc. (The) in the 3rd quarter valued at about $109,000. 80.53% of the stock is owned by institutional investors and hedge funds.

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Manitowoc Company, Inc. (MTW) traded up $0.08 on Monday, reaching $9.94. The company had a trading volume of 956,200 shares, compared to its average volume of 1,656,171. Manitowoc Company, Inc. has a 1 year low of $4.82 and a 1 year high of $10.53. The company has a quick ratio of 0.68, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.11. The company had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. Manitowoc Company, Inc. (The) had a negative return on equity of 6.17% and a negative net margin of 4.01%. Manitowoc Company, Inc. (The)’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) EPS. research analysts forecast that Manitowoc Company, Inc. will post -0.08 EPS for the current fiscal year.

Manitowoc Company, Inc. (The) Company Profile

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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