Shares of Manitowoc Company Inc (NYSE:MTW) have earned an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $40.09.
A number of brokerages recently issued reports on MTW. Zacks Investment Research downgraded Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Stifel Nicolaus raised their price target on Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. SunTrust Banks raised their price target on Manitowoc to $37.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Barclays initiated coverage on Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird restated a “buy” rating and set a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th.
Shares of Manitowoc (NYSE MTW) traded down $1.68 during mid-day trading on Wednesday, hitting $33.59. The company had a trading volume of 697,756 shares, compared to its average volume of 866,228. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Manitowoc has a one year low of $21.00 and a one year high of $44.03. The stock has a market capitalization of $1,240.93, a P/E ratio of 159.95 and a beta of 1.35.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The business had revenue of $481.50 million during the quarter, compared to analysts’ expectations of $423.27 million. During the same quarter last year, the business posted ($0.24) EPS. The company’s quarterly revenue was up 27.3% on a year-over-year basis. sell-side analysts predict that Manitowoc will post 0.57 earnings per share for the current fiscal year.
In other news, SVP Thomas G. Musial sold 4,476 shares of Manitowoc stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total value of $151,467.84. Following the transaction, the senior vice president now owns 54,319 shares in the company, valued at $1,838,154.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles David Myers acquired 3,854 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The disclosure for this purchase can be found here. Company insiders own 2.82% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Manitowoc by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after buying an additional 471,356 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Manitowoc by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock worth $82,019,000 after buying an additional 465,797 shares during the period. State Street Corp increased its holdings in shares of Manitowoc by 6.4% in the second quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after buying an additional 150,097 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Manitowoc by 5.2% in the third quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after buying an additional 116,087 shares during the period. Finally, Van Den Berg Management I Inc. increased its holdings in shares of Manitowoc by 18.4% in the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after buying an additional 278,220 shares during the period.
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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.
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