Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) PT at $12.47

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned a consensus recommendation of “Reduce” from the six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.47.

MTW has been the subject of several recent research reports. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price objective on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research report on Friday, August 9th. Barclays reduced their price objective on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTW. Isthmus Partners LLC increased its holdings in Manitowoc by 1.8% in the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after buying an additional 3,767 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Manitowoc during the 2nd quarter worth approximately $26,000. US Bancorp DE increased its stake in shares of Manitowoc by 88.1% during the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,327 shares in the last quarter. CWM LLC increased its stake in shares of Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,482 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Manitowoc during the 3rd quarter worth approximately $51,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Stock Performance

NYSE MTW opened at $10.25 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. Manitowoc has a 1 year low of $8.50 and a 1 year high of $17.65. The company has a market capitalization of $359.91 million, a PE ratio of -38.89 and a beta of 1.83. The company has a fifty day moving average of $10.05 and a two-hundred day moving average of $10.56.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same quarter last year, the company posted $0.22 EPS. Manitowoc’s quarterly revenue was up .7% on a year-over-year basis. As a group, analysts expect that Manitowoc will post 0.46 earnings per share for the current year.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.