Shares of Manitowoc Company Inc (NYSE:MTW) have been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.82.
A number of research firms recently issued reports on MTW. Stifel Nicolaus cut their price target on Manitowoc from $48.00 to $42.00 and set a “buy” rating for the company in a report on Monday, February 12th. Deutsche Bank cut their price target on Manitowoc from $44.00 to $36.00 and set a “hold” rating for the company in a report on Monday, February 12th. JPMorgan Chase & Co. cut Manitowoc from a “neutral” rating to an “underweight” rating and cut their price target for the company from $30.00 to $29.00 in a report on Monday, February 12th. Zacks Investment Research raised Manitowoc from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Finally, Robert W. Baird cut Manitowoc from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $27.95 to $33.00 in a report on Friday, March 2nd.
Manitowoc (NYSE MTW) traded down $0.22 during trading on Friday, hitting $29.72. The company had a trading volume of 641,789 shares, compared to its average volume of 858,122. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.76 and a quick ratio of 0.89. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $44.03. The company has a market capitalization of $1,050.51, a PE ratio of 141.52 and a beta of 1.57.
Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The business had revenue of $481.50 million during the quarter, compared to the consensus estimate of $423.27 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. equities analysts predict that Manitowoc will post 0.51 EPS for the current fiscal year.
In related news, SVP Thomas G. Musial sold 1,376 shares of Manitowoc stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.07, for a total value of $44,128.32. Following the completion of the sale, the senior vice president now directly owns 48,467 shares in the company, valued at $1,554,336.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Thomas G. Musial sold 4,476 shares of Manitowoc stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total value of $151,467.84. Following the completion of the sale, the senior vice president now owns 54,319 shares of the company’s stock, valued at $1,838,154.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,179 shares of company stock valued at $288,486. Corporate insiders own 2.82% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Manitowoc by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock worth $82,019,000 after purchasing an additional 465,797 shares during the period. State Street Corp grew its position 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 period. Neuberger Berman Group LLC grew its position in shares of Manitowoc by 5.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after buying an additional 116,087 shares during the period. Van Den Berg Management I Inc. grew its position in shares of Manitowoc by 18.4% during the 3rd quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after buying an additional 278,220 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Manitowoc by 15.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 805,412 shares of the industrial products company’s stock worth $7,247,000 after buying an additional 108,147 shares during the period. Hedge funds and other institutional investors own 79.26% of the company’s stock.
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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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