Manitowoc (NYSE:MTW - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Friday.
MTW has been the subject of a number of other research reports. 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 note on Friday. The Goldman Sachs Group dropped their target price on shares of Manitowoc from $13.00 to $11.30 and set a "sell" rating for the company in a research report on Friday, August 9th. Barclays reduced their price target on Manitowoc from $12.00 to $9.00 and set an "underweight" rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised 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. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.47.
Get Our Latest Research Report on Manitowoc
Manitowoc Stock Performance
Shares of NYSE MTW traded down $0.44 during mid-day trading on Friday, reaching $8.90. 488,999 shares of the company's stock were exchanged, compared to its average volume of 270,273. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.89 and a quick ratio of 0.58. The firm has a market capitalization of $312.57 million, a price-to-earnings ratio of -32.96 and a beta of 1.84. Manitowoc has a 52 week low of $8.50 and a 52 week high of $17.65. The firm has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $10.91.
Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.18). Manitowoc had a positive return on equity of 2.41% and a negative net margin of 0.40%. The business had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. During the same period last year, the business posted $0.22 earnings per share. The firm's quarterly revenue was up .7% on a year-over-year basis. Analysts predict that Manitowoc will post 0.62 EPS for the current year.
Hedge Funds Weigh In On Manitowoc
A number of large investors have recently added to or reduced their stakes in MTW. Allspring Global Investments Holdings LLC lifted its position in Manitowoc by 183.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company's stock valued at $163,000 after acquiring an additional 7,441 shares during the last quarter. Empowered Funds LLC raised its stake in Manitowoc by 8.2% in the first quarter. Empowered Funds LLC now owns 148,404 shares of the industrial products company's stock valued at $2,098,000 after buying an additional 11,200 shares during the last quarter. Isthmus Partners LLC boosted its holdings in Manitowoc by 44.4% in the first quarter. Isthmus Partners LLC now owns 211,217 shares of the industrial products company's stock worth $2,987,000 after acquiring an additional 64,962 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Manitowoc by 63.7% during the first quarter. Avantax Advisory Services Inc. now owns 36,847 shares of the industrial products company's stock valued at $521,000 after acquiring an additional 14,337 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Manitowoc in the 1st quarter valued at approximately $245,000. 78.66% of the stock is currently owned by institutional investors.
About Manitowoc
(
Get Free Report)
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.
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