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

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned a consensus recommendation of “Reduce” from the six research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $12.47.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. 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 valued at $27,000 after purchasing an additional 1,327 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Manitowoc in the third quarter worth about $51,000. Point72 Asset Management L.P. boosted its stake in shares of 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 worth $55,000 after buying an additional 1,828 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Manitowoc during the second quarter worth about $66,000. Finally, R Squared Ltd purchased a new position in Manitowoc during the fourth quarter valued at approximately $66,000. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Trading Up 0.3 %

Shares of MTW opened at $10.00 on Wednesday. The stock has a market capitalization of $351.09 million, a PE ratio of -37.02 and a beta of 1.84. The company’s fifty day moving average is $9.57 and its 200 day moving average is $9.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. Manitowoc has a fifty-two week low of $8.30 and a fifty-two week high of $17.65.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data 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 company had revenue of $524.80 million for the quarter, compared to the consensus estimate of $516.49 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. Sell-side analysts expect that Manitowoc will post 0.44 earnings per share for the current fiscal year.

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.