The Manitowoc Company, Inc. (NYSE:MTW) Given Consensus Recommendation of "Reduce" by Analysts

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) has earned a consensus recommendation of "Reduce" from the six brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $12.47.

Several analysts have commented on MTW shares. Barclays lowered their target price on shares of Manitowoc from $12.00 to $9.00 and set an "underweight" rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective 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. StockNews.com upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on Manitowoc from $13.00 to $11.30 and set a "sell" rating for the company in a report on Friday, August 9th. Finally, Robert W. Baird reduced their target price on Manitowoc from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, November 1st.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently modified their holdings of MTW. Innealta Capital LLC acquired a new position in Manitowoc in the 2nd quarter worth $26,000. US Bancorp DE increased its position in shares of Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock worth $27,000 after acquiring an additional 1,327 shares during the last quarter. CWM LLC lifted its stake in shares of Manitowoc by 97.0% in the second quarter. CWM LLC now owns 3,010 shares of the industrial products company's stock worth $35,000 after acquiring an additional 1,482 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Manitowoc by 63.0% in 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 purchasing an additional 1,828 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Manitowoc during the 3rd quarter valued at approximately $51,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Stock Down 1.0 %

NYSE MTW traded down $0.11 during trading hours on Tuesday, reaching $10.47. The company's stock had a trading volume of 223,217 shares, compared to its average volume of 279,642. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The company's 50-day moving average is $10.01 and its two-hundred day moving average is $10.57. Manitowoc has a fifty-two week low of $8.50 and a fifty-two week high of $17.65.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). The business 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%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. As a group, research analysts forecast that Manitowoc will post 0.46 EPS for the current year.

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.