Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Price Target at $16.83

The Manitowoc Company, Inc. (NYSE:MTW) has earned an average rating of “Reduce” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.83.

A number of analysts recently issued reports on MTW shares. StockNews.com downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Barclays reduced their price objective on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds have recently modified their holdings of MTW. AJOVista LLC acquired a new stake in shares of Manitowoc in the fourth quarter valued at about $69,000. Allspring Global Investments Holdings LLC raised its position in shares of Manitowoc by 19.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock valued at $77,000 after buying an additional 823 shares during the last quarter. Inlet Private Wealth LLC acquired a new stake in shares of Manitowoc in the first quarter valued at about $141,000. Arizona State Retirement System acquired a new stake in shares of Manitowoc in the third quarter valued at about $151,000. Finally, Spire Wealth Management acquired a new stake in Manitowoc during the third quarter worth about $174,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

Shares of NYSE MTW opened at $12.64 on Monday. The company’s fifty day moving average price is $13.40 and its 200 day moving average price is $14.53. Manitowoc has a 1 year low of $12.20 and a 1 year high of $19.81. The company has a market capitalization of $448.52 million, a PE ratio of 11.60 and a beta of 2.04. 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 quarterly 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). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The firm had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $583.90 million. During the same period last year, the company posted $0.74 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, research analysts predict that Manitowoc will post 1.31 earnings per share for the current 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.