Manitowoc (NYSE:MTW) was upgraded by investment analysts at TheStreet from a “d+” rating to a “c-” rating in a report issued on Friday, TheStreetRatingsTable reports.
Other analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. ValuEngine upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Credit Suisse Group cut their target price on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Royal Bank of Canada restated a “hold” rating on shares of Manitowoc in a research report on Sunday, May 10th. Finally, Goldman Sachs Group cut shares of Manitowoc from a “buy” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $11.00 in a research report on Monday, April 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Manitowoc has a consensus rating of “Hold” and a consensus price target of $14.43.
Shares of NYSE MTW opened at $11.00 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.56. Manitowoc has a 52 week low of $7.24 and a 52 week high of $18.55. The firm has a 50-day moving average price of $10.05 and a 200 day moving average price of $11.98. The stock has a market capitalization of $361.30 million, a price-to-earnings ratio of 5.98 and a beta of 1.98.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). Manitowoc had a net margin of 3.75% and a return on equity of 9.41%. The company had revenue of $329.20 million during the quarter, compared to analyst estimates of $353.73 million. During the same quarter last year, the business earned $0.08 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts expect that Manitowoc will post -0.73 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new stake in Manitowoc in the first quarter valued at approximately $42,000. Great West Life Assurance Co. Can purchased a new stake in Manitowoc in the fourth quarter valued at approximately $54,000. SG Americas Securities LLC grew its holdings in Manitowoc by 88.1% in the first quarter. SG Americas Securities LLC now owns 13,450 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 6,300 shares during the period. Advisor Group Inc. grew its holdings in Manitowoc by 21.7% in the fourth quarter. Advisor Group Inc. now owns 6,658 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 1,186 shares during the period. Finally, Bank of Montreal Can grew its stake in Manitowoc by 42.5% during the fourth quarter. Bank of Montreal Can now owns 7,128 shares of the industrial products company’s stock worth $125,000 after buying an additional 2,127 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.
Manitowoc Company Profile
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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