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

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

MTW has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Manitowoc from $10.00 to $12.00 and gave the stock 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 research note on Friday, November 1st. Finally, Robert W. Baird dropped their price objective on shares of Manitowoc from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors have recently made changes to their positions in MTW. US Bancorp DE raised its position in Manitowoc by 88.1% in the 3rd quarter. US Bancorp DE now owns 2,834 shares of the industrial products company's stock worth $27,000 after buying an additional 1,327 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of 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 worth $55,000 after acquiring an additional 1,828 shares during the period. SG Americas Securities LLC raised its holdings in shares of Manitowoc by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company's stock valued at $140,000 after purchasing an additional 1,944 shares during the last quarter. Geode Capital Management LLC lifted its position in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company's stock valued at $7,643,000 after purchasing an additional 2,224 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Manitowoc by 5.2% in the second quarter. Hsbc Holdings PLC now owns 54,250 shares of the industrial products company's stock worth $579,000 after purchasing an additional 2,689 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Trading Down 1.2 %

Manitowoc stock traded down $0.12 during mid-day trading on Wednesday, reaching $9.44. 348,039 shares of the company traded hands, compared to its average volume of 226,749. The firm's 50 day moving average price is $9.59 and its 200 day moving average price is $9.99. Manitowoc has a 52-week low of $8.30 and a 52-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. The firm has a market capitalization of $331.45 million, a price-to-earnings ratio of -34.94 and a beta of 1.84.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company had revenue of $524.80 million during the quarter, compared to analysts' expectations of $516.49 million. During the same quarter last year, the business earned $0.22 earnings per share. The business's quarterly revenue was up .7% on a year-over-year basis. On average, analysts anticipate that Manitowoc will post 0.44 earnings per share for the current fiscal 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.