Manitowoc (NYSE:MTW) Downgraded by StockNews.com

StockNews.com cut shares of Manitowoc (NYSE:MTW) from a hold rating to a sell rating in a report issued on Wednesday.

MTW has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Manitowoc from $14.00 to $12.50 and set a neutral rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group cut their price objective on Manitowoc from $15.00 to $13.00 and set a sell rating for the company in a report on Thursday, July 11th. UBS Group cut their price objective on Manitowoc from $18.00 to $14.50 and set a neutral rating for the company in a report on Wednesday, June 12th. Finally, Barclays cut their price objective on Manitowoc from $15.00 to $12.00 and set an underweight rating for the company in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Manitowoc presently has an average rating of Hold and a consensus price target of $15.75.

Manitowoc Trading Up 0.9 %

Shares of MTW stock opened at $12.98 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 1.77. Manitowoc has a 1 year low of $10.01 and a 1 year high of $19.48. The stock has a fifty day moving average of $11.50 and a two-hundred day moving average of $13.16. The firm has a market capitalization of $461.32 million, a PE ratio of 17.31 and a beta of 1.91.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Manitowoc had a return on equity of 7.33% and a net margin of 1.23%. The business had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. During the same quarter last year, the firm posted $0.46 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts expect that Manitowoc will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Manitowoc by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after purchasing an additional 79,213 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Manitowoc by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company’s stock worth $12,911,000 after purchasing an additional 46,417 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Manitowoc by 1,292.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after purchasing an additional 479,662 shares during the period. Acadian Asset Management LLC raised its position in shares of Manitowoc by 4.3% during the first quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock worth $6,172,000 after purchasing an additional 18,181 shares during the period. Finally, TCW Group Inc. raised its position in shares of Manitowoc by 65.4% during the second quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after purchasing an additional 160,601 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

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.