Robert W. Baird Reaffirms Buy Rating for Manitowoc (NYSE:MTW)

Manitowoc (NYSE:MTW)‘s stock had its “buy” rating restated by stock analysts at Robert W. Baird in a research report issued to clients and investors on Friday, November 24th. They currently have a $47.00 price target on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 16.05% from the stock’s current price.

Several other analysts have also recently issued reports on MTW. UBS reissued a “neutral” rating and set a $32.00 price target (up previously from $24.00) on shares of Manitowoc in a research report on Thursday, August 10th. ValuEngine upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. TheStreet upgraded shares of Manitowoc from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Jefferies Group restated a “buy” rating and set a $38.00 target price (up from $32.00) on shares of Manitowoc in a research report on Wednesday, August 9th. Finally, Credit Suisse Group increased their price target on Manitowoc from $24.40 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.34.

Shares of Manitowoc (MTW) opened at $40.50 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc has a twelve month low of $21.00 and a twelve month high of $42.12.

Manitowoc (NYSE:MTW) last released its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business had revenue of $399.40 million during the quarter, compared to analyst estimates of $385.01 million. During the same quarter in the prior year, the firm earned ($1.12) earnings per share. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. sell-side analysts expect that Manitowoc will post -0.19 earnings per share for the current fiscal year.

In related news, Director Charles David Myers bought 3,854 shares of Manitowoc stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.82% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Manitowoc by 704.5% during the 1st quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 20,056 shares during the last quarter. Vanguard Group Inc. boosted its stake in Manitowoc by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 10,149,967 shares of the industrial products company’s stock valued at $57,854,000 after purchasing an additional 560,479 shares during the period. Geode Capital Management LLC boosted its stake in Manitowoc by 13.1% during the 1st quarter. Geode Capital Management LLC now owns 1,064,981 shares of the industrial products company’s stock valued at $6,070,000 after purchasing an additional 123,098 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Manitowoc by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 530,382 shares of the industrial products company’s stock valued at $3,024,000 after purchasing an additional 29,652 shares during the period. Finally, Bank of America Corp DE boosted its stake in Manitowoc by 1.6% during the 1st quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 1,391 shares during the period.

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About Manitowoc

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc (NYSE:MTW)

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