The Manitowoc Company, Inc. (NYSE:MTW) Receives $12.66 Consensus Target Price from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned a consensus rating of “Reduce” from the five research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $12.56.

Several research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. StockNews.com lowered Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group decreased their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th.

Hedge Funds Weigh In On Manitowoc

A number of hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC lifted its stake in Manitowoc by 1.8% in the second quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 3,767 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Manitowoc during the 2nd quarter valued at $26,000. CWM LLC lifted its stake in shares of Manitowoc by 97.0% in the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,482 shares during the last quarter. nVerses Capital LLC acquired a new position in Manitowoc during the third quarter worth $51,000. Finally, Point72 Asset Management L.P. raised its holdings in Manitowoc by 63.0% during the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,828 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Up 0.1 %

MTW stock opened at $10.20 on Monday. The firm’s 50-day moving average is $9.65 and its two-hundred day moving average is $11.19. The company has a current ratio of 1.89, a quick ratio of 0.58 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $362.52 million, a price-to-earnings ratio of 13.60 and a beta of 1.84. Manitowoc has a 52 week low of $8.85 and a 52 week high of $17.65.

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