UBS Group Has Lowered Expectations for Manitowoc (NYSE:MTW) Stock Price

Manitowoc (NYSE:MTW) had its price target lowered by UBS Group from $13.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price would indicate a potential upside of 24.64% from the stock’s previous close.

Manitowoc Stock Down 2.7 %

MTW opened at $7.22 on Monday. The stock has a market capitalization of $253.70 million, a price-to-earnings ratio of 4.66 and a beta of 1.79. Manitowoc has a 12 month low of $7.17 and a 12 month high of $13.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The business has a 50-day moving average of $9.70 and a two-hundred day moving average of $9.70.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. On average, research analysts expect that Manitowoc will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Front Street Capital Management Inc. grew its position in Manitowoc by 7.8% in the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock worth $30,764,000 after purchasing an additional 243,077 shares during the last quarter. State Street Corp lifted its stake in Manitowoc by 8.1% during the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after purchasing an additional 64,101 shares during the period. Geode Capital Management LLC boosted its holdings in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after purchasing an additional 2,224 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in Manitowoc by 61.9% in the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after buying an additional 232,744 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Manitowoc by 207.9% in the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after purchasing an additional 397,837 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

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.