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

The Manitowoc Company, Inc. (NYSE:MTW) has been given a consensus rating of “Reduce” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $12.47.

A number of research firms have recently issued reports on MTW. JPMorgan Chase & Co. lifted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Barclays reduced their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Robert W. Baird lowered their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group reduced their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Institutional Trading of Manitowoc

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of Manitowoc during the 2nd quarter worth approximately $8,813,000. Front Street Capital Management Inc. raised its position in shares of Manitowoc by 8.4% during 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. Bank of Montreal Can acquired a new position in shares of Manitowoc in the 2nd quarter valued at $2,385,000. TCW Group Inc. boosted its position in shares of Manitowoc by 65.4% in the 2nd 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 last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock worth $6,810,000 after purchasing an additional 140,042 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

Manitowoc Stock Performance

Shares of NYSE:MTW opened at $10.67 on Friday. The stock has a market capitalization of $374.66 million, a price-to-earnings ratio of -39.50 and a beta of 1.84. The business’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $10.76. Manitowoc has a fifty-two week low of $8.50 and a fifty-two week high of $17.65. 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 earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The firm had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts predict that Manitowoc will post 0.46 EPS 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.