Manitowoc (NYSE:MTW) Cut to Strong Sell at ValuEngine

Manitowoc (NYSE:MTW) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday, ValuEngine reports.

Several other research firms also recently commented on MTW. Goldman Sachs Group upgraded shares of Manitowoc from a “sell” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $18.00 in a research note on Friday. Zacks Investment Research downgraded shares of Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Tuesday, August 13th. OTR Global downgraded shares of Manitowoc from a “mixed” rating to a “negative” rating in a research note on Tuesday, September 10th. Royal Bank of Canada restated a “hold” rating and issued a $20.00 price target on shares of Manitowoc in a research note on Tuesday, August 13th. Finally, Robert W. Baird downgraded shares of Manitowoc from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Manitowoc has an average rating of “Hold” and a consensus price target of $16.50.

Manitowoc stock traded up $2.29 during trading on Friday, hitting $16.21. The company had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. The company’s 50 day simple moving average is $12.39 and its 200-day simple moving average is $14.99. The stock has a market cap of $501.58 million, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 0.84 and a beta of 2.16. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56. Manitowoc has a 1-year low of $10.49 and a 1-year high of $20.09.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. The business had revenue of $448.00 million during the quarter, compared to the consensus estimate of $455.27 million. Manitowoc had a negative net margin of 2.52% and a positive return on equity of 7.97%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. As a group, analysts forecast that Manitowoc will post 1.7 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of MTW. Golden State Wealth Management LLC purchased a new stake in shares of Manitowoc during the 3rd quarter worth $29,000. Tower Research Capital LLC TRC lifted its position in shares of Manitowoc by 513.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 4,193 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Manitowoc by 20.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Manitowoc by 264.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 6,961 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Manitowoc by 104.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 5,056 shares during the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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