The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.50 Average PT from Analysts

The Manitowoc Company, Inc. (NYSE:MTW) has received an average rating of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.50.

A number of equities analysts have recently weighed in on MTW shares. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price target (up from $9.00) on shares of Manitowoc in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd.

Manitowoc Stock Down 0.1%

Shares of NYSE:MTW opened at $12.92 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $458.27 million, a P/E ratio of 8.13 and a beta of 1.88. Manitowoc has a 52-week low of $7.06 and a 52-week high of $14.32. The stock’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $11.44.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, November 5th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The firm had revenue of $553.40 million during the quarter, compared to analyst estimates of $550.00 million. During the same period in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Manitowoc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in shares of Manitowoc by 55.7% in the 2nd quarter. Acadian Asset Management LLC now owns 389,510 shares of the industrial products company’s stock worth $4,678,000 after buying an additional 139,423 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Manitowoc during the second quarter worth about $371,000. Brandywine Global Investment Management LLC purchased a new position in shares of Manitowoc in the 2nd quarter worth about $748,000. Vise Technologies Inc. purchased a new position in shares of Manitowoc in the 2nd quarter worth about $335,000. Finally, Bailard Inc. acquired a new position in shares of Manitowoc in the 2nd quarter valued at about $288,000. Hedge funds and other institutional investors own 78.66% of the company’s stock.

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.