The Manitowoc Company, Inc. (NYSE:MTW) Receives Consensus Rating of “Reduce” from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given an average rating of “Reduce” by the six analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.22.

Several analysts have recently weighed in on MTW shares. Barclays lowered their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Manitowoc from $14.00 to $12.50 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group cut their target price on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research note on Friday, August 9th. UBS Group cut their target price on Manitowoc from $18.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, June 12th. Finally, StockNews.com downgraded Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th.

Manitowoc Price Performance

MTW stock opened at $9.41 on Thursday. The company has a market capitalization of $334.44 million, a P/E ratio of 12.55 and a beta of 1.85. Manitowoc has a twelve month low of $8.85 and a twelve month high of $17.65. The business has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $11.63. The company has a current ratio of 1.89, a quick ratio of 0.58 and a debt-to-equity ratio of 0.69.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.24). Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The firm had revenue of $562.10 million during the quarter, compared to analyst estimates of $598.00 million. During the same period in the previous year, the company posted $0.75 earnings per share. Manitowoc’s revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Manitowoc will post 0.64 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

A number of large investors have recently added to or reduced their stakes in the business. Front Street Capital Management Inc. grew its stake in Manitowoc by 8.4% in the 2nd quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock valued at $32,361,000 after acquiring an additional 217,389 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Manitowoc by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company’s stock valued at $12,911,000 after acquiring an additional 46,417 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Manitowoc in the 2nd quarter valued at about $8,813,000. AQR Capital Management LLC grew its stake in Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after acquiring an additional 140,042 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Manitowoc by 4.3% in the 1st quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock valued at $6,172,000 after acquiring an additional 18,181 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

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.