The Manitowoc Company, Inc. (NYSE:MTW) Receives $12.47 Consensus Target Price from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have received an average rating of “Reduce” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.47.

MTW has been the subject of a number of recent research reports. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Robert W. Baird cut their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 1st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in Manitowoc by 33.6% during the second quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock worth $3,028,000 after purchasing an additional 66,013 shares during the period. Renaissance Technologies LLC grew its stake in Manitowoc by 86.7% during the 2nd quarter. Renaissance Technologies LLC now owns 94,949 shares of the industrial products company’s stock worth $1,095,000 after purchasing an additional 44,100 shares in the last quarter. Hsbc Holdings PLC raised its position in Manitowoc by 5.2% in the 2nd quarter. Hsbc Holdings PLC now owns 54,250 shares of the industrial products company’s stock valued at $579,000 after purchasing an additional 2,689 shares in the last quarter. Bank of Montreal Can acquired a new stake in Manitowoc in the 2nd quarter valued at about $2,385,000. Finally, Front Street Capital Management Inc. grew its position in shares of Manitowoc by 8.4% during the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after buying an additional 217,389 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Trading Down 2.8 %

Shares of NYSE:MTW opened at $9.71 on Wednesday. The business’s 50 day moving average price is $9.55 and its 200-day moving average price is $9.97. Manitowoc has a 1 year low of $8.30 and a 1 year high of $17.65. The firm has a market capitalization of $340.97 million, a price-to-earnings ratio of -35.95 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The firm had revenue of $524.80 million for the quarter, compared to analysts’ expectations of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. Manitowoc’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts forecast that Manitowoc will post 0.44 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.