Shares of Manitowoc Company Inc (NYSE:MTW) have been assigned a consensus recommendation of “Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.70.
Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Barclays initiated coverage on Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price objective for the company. Robert W. Baird restated a “buy” rating and set a $47.00 price objective on shares of Manitowoc in a research report on Friday, November 24th. Finally, Royal Bank of Canada upgraded Manitowoc from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $48.00 in a research report on Wednesday, November 1st.
Shares of Manitowoc (NYSE MTW) traded down $0.09 during trading hours on Tuesday, hitting $39.34. The stock had a trading volume of 507,737 shares, compared to its average volume of 420,684. The stock has a market cap of $1,380.00, a price-to-earnings ratio of -28.72 and a beta of 1.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $42.12.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. The business had revenue of $399.40 million for the quarter, compared to analyst estimates of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.12) EPS. sell-side analysts expect that Manitowoc will post -0.19 EPS for the current year.
In other news, Director Charles David Myers acquired 3,854 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $39.12 per share, for a total transaction of $150,768.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.82% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Manitowoc by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after buying an additional 471,356 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Manitowoc by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock worth $82,019,000 after buying an additional 465,797 shares during the last quarter. Southpoint Capital Advisors LP increased its holdings in shares of Manitowoc by 29.2% during the 2nd quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after buying an additional 1,750,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Manitowoc by 14.2% during the 2nd quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock worth $21,331,000 after buying an additional 440,000 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Manitowoc by 6.4% during the 2nd quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after buying an additional 150,097 shares during the last quarter.
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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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