The Manitowoc Company, Inc. (NYSE:MTW) Receives $17.29 Consensus PT from Brokerages

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus rating of “Reduce” from the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $17.29.

A number of equities research analysts recently weighed in on the company. StockNews.com cut Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Company lowered their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th.

Institutional Investors Weigh In On Manitowoc

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Manitowoc by 104.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 1,681 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Manitowoc during the 3rd quarter valued at about $38,000. UBS Group AG boosted its stake in shares of Manitowoc by 165.6% in the 3rd quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 3,696 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Manitowoc by 150.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,000 shares of the industrial products company’s stock worth $50,000 after buying an additional 1,800 shares during the period. Finally, US Bancorp DE raised its stake in shares of Manitowoc by 43.6% during the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,146 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Price Performance

NYSE:MTW opened at $14.14 on Friday. The company has a market capitalization of $501.69 million, a price-to-earnings ratio of 12.97 and a beta of 2.04. The company has a 50-day moving average of $14.58 and a 200-day moving average of $14.72. Manitowoc has a 52 week low of $12.20 and a 52 week high of $19.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). The firm had revenue of $595.80 million for the quarter, compared to analyst estimates of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. As a group, equities research analysts anticipate that Manitowoc will post 1.29 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.