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

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned an average rating of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $12.47.

MTW has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Robert W. Baird dropped 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. Finally, StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Institutional Trading of Manitowoc

A number of hedge funds have recently modified their holdings of MTW. Victory Capital Management Inc. acquired a new stake in shares of Manitowoc during the second quarter worth $8,813,000. Hodges Capital Management Inc. acquired a new stake in Manitowoc in the 3rd quarter valued at $2,305,000. Front Street Capital Management Inc. lifted its position in Manitowoc by 8.4% during the 2nd quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after buying an additional 217,389 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Manitowoc during the 2nd quarter worth about $2,385,000. Finally, AQR Capital Management LLC increased its position in shares of Manitowoc by 31.1% in the second quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after acquiring an additional 140,042 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Manitowoc stock opened at $8.77 on Friday. Manitowoc has a 52-week low of $8.50 and a 52-week high of $17.65. The firm has a market capitalization of $308.06 million, a P/E ratio of -32.48 and a beta of 1.83. The stock has a fifty day moving average price of $9.96 and a two-hundred day moving average price of $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 posted 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 firm had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, analysts anticipate that Manitowoc will post 0.46 EPS 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.