The Manitowoc Company, Inc. (NYSE:MTW) Given Average Recommendation of “Reduce” by Analysts

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus rating of “Reduce” from the five brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $10.25.

MTW has been the subject of a number of research reports. Wall Street Zen raised Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a research report on Monday, December 22nd. Finally, Wells Fargo & Company initiated coverage on shares of Manitowoc in a research note on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target for the company.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently made changes to their positions in MTW. Arrowstreet Capital Limited Partnership raised its stake in shares of Manitowoc by 154.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 340,280 shares of the industrial products company’s stock worth $4,090,000 after purchasing an additional 206,313 shares during the last quarter. UBS Group AG raised its position in Manitowoc by 86.2% in the 3rd quarter. UBS Group AG now owns 384,062 shares of the industrial products company’s stock valued at $3,844,000 after buying an additional 177,823 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Manitowoc by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 140,246 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Manitowoc during the 3rd quarter worth $1,351,000. Finally, Marshall Wace LLP grew its stake in shares of Manitowoc by 56.4% in the 2nd quarter. Marshall Wace LLP now owns 371,498 shares of the industrial products company’s stock worth $4,465,000 after acquiring an additional 134,013 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Trading Up 5.6%

MTW opened at $13.32 on Friday. The company has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $11.32. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.61. The company has a market cap of $472.28 million, a P/E ratio of 8.37 and a beta of 1.88. The company has a current ratio of 2.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last issued its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) EPS for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The firm had revenue of $354.30 million during the quarter. Analysts predict that Manitowoc will post 0.5 EPS for the current fiscal year.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.