Manitowoc Company, Inc. (The) (NYSE:MTW) has been assigned an average recommendation of “Buy” from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.04.
A number of equities analysts have issued reports on the stock. UBS reissued a “neutral” rating and set a $32.00 price target (up from $24.00) on shares of Manitowoc in a research report on Thursday, August 10th. ValuEngine raised shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group reaffirmed a “buy” rating and set a $38.00 target price (up from $32.00) on shares of Manitowoc in a report on Wednesday, August 9th. Credit Suisse Group lifted their target price on shares of Manitowoc from $24.40 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Manitowoc in a report on Friday, November 24th.
In related news, Director Charles David Myers purchased 3,854 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average price of $39.12 per share, with a total value of $150,768.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.82% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC grew its stake in Manitowoc by 22.3% in the 2nd quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 3,158 shares during the period. Cipher Capital LP acquired a new stake in Manitowoc in the 3rd quarter valued at $109,000. BNP Paribas Arbitrage SA grew its stake in Manitowoc by 646.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 16,065 shares during the period. Invictus RG acquired a new stake in Manitowoc in the 3rd quarter valued at $124,000. Finally, JPMorgan Chase & Co. grew its stake in Manitowoc by 704.5% in the 1st quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 20,056 shares during the period.
Manitowoc (MTW) traded down $1.22 on Friday, reaching $39.28. 369,929 shares of the company’s stock were exchanged, compared to its average volume of 422,363. Manitowoc has a 12 month low of $21.00 and a 12 month high of $42.12. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.
Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The company had revenue of $399.40 million during the quarter, compared to analyst estimates of $385.01 million. During the same period last year, the firm posted ($1.12) EPS. Manitowoc’s revenue for the quarter was up 14.2% compared to the same quarter last year. analysts expect that Manitowoc will post -0.19 EPS for the current year.
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Manitowoc 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.
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