TheStreet upgraded shares of Manitowoc (NYSE:MTW) from a d+ rating to a c- rating in a research note published on Friday morning, TheStreetRatingsTable reports.
A number of other equities analysts have also issued reports on MTW. ValuEngine raised Manitowoc from a sell rating to a hold rating in a research note on Monday, June 1st. Goldman Sachs Group lowered Manitowoc from a buy rating to a neutral rating and decreased their price target for the company from $12.00 to $11.00 in a research note on Monday, April 20th. Credit Suisse Group decreased their price target on Manitowoc from $11.00 to $10.00 and set a neutral rating for the company in a research note on Monday, May 11th. Royal Bank of Canada reissued a hold rating on shares of Manitowoc in a research note on Sunday, May 10th. Finally, Citigroup raised their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a neutral rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Manitowoc currently has an average rating of Hold and a consensus target price of $14.43.
Shares of NYSE MTW opened at $11.00 on Friday. The stock has a fifty day moving average price of $10.05 and a two-hundred day moving average price of $11.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.70 and a current ratio of 1.91. The firm has a market cap of $361.30 million, a P/E ratio of 5.98 and a beta of 1.98. Manitowoc has a 1 year low of $7.24 and a 1 year high of $18.55.
Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $329.20 million for the quarter, compared to the consensus estimate of $353.73 million. Manitowoc had a net margin of 3.75% and a return on equity of 9.41%. The business’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. On average, research analysts predict that Manitowoc will post -0.73 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Manitowoc by 19.5% in the first quarter. State Street Corp now owns 841,263 shares of the industrial products company’s stock valued at $7,151,000 after purchasing an additional 137,417 shares in the last quarter. Morgan Stanley grew its stake in Manitowoc by 214.2% in the 1st quarter. Morgan Stanley now owns 337,959 shares of the industrial products company’s stock valued at $2,872,000 after buying an additional 230,386 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Manitowoc during the 1st quarter worth approximately $221,000. AQR Capital Management LLC acquired a new position in shares of Manitowoc during the 1st quarter worth approximately $172,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Manitowoc during the 1st quarter worth approximately $746,000. Institutional investors own 75.55% of the company’s stock.
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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