The Manitowoc Company, Inc. (NYSE:MTW) Receives $12.47 Average Price Target from Brokerages

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

A number of equities research analysts have weighed in on MTW shares. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Robert W. Baird decreased their price target on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st.

Manitowoc Price Performance

NYSE:MTW opened at $8.77 on Friday. Manitowoc has a one year low of $8.50 and a one year high of $17.65. The company has a market cap of $308.06 million, a P/E ratio of -32.48 and a beta of 1.83. The firm’s fifty day moving average price is $9.96 and its two-hundred day moving average price is $10.22. 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 (NYSE:MTW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS 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 the consensus estimate of $516.49 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts expect that Manitowoc will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Manitowoc in the 2nd quarter valued at $26,000. US Bancorp DE boosted its holdings in Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,327 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,828 shares during the period. nVerses Capital LLC acquired a new position in shares of Manitowoc during the third quarter worth approximately $51,000. Finally, William B. Walkup & Associates Inc. bought a new position in shares of Manitowoc in the 2nd quarter worth $66,000. Institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

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.