Manitowoc (NYSE:MTW) had its price objective lowered by Deutsche Bank from $36.00 to $32.00 in a research report released on Monday. The brokerage currently has a hold rating on the industrial products company’s stock.
Several other equities analysts have also recently issued reports on the stock. Seaport Global Securities upgraded shares of Manitowoc from a neutral rating to a buy rating and set a $48.00 price target for the company in a research report on Monday, November 20th. Robert W. Baird restated a buy rating and issued a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. Barclays started coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They issued an overweight rating and a $45.00 price target for the company. Zacks Investment Research cut shares of Manitowoc from a strong-buy rating to a hold rating in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. cut shares of Manitowoc from a neutral rating to an underweight rating and decreased their price target for the company from $30.00 to $29.00 in a research report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $38.54.
Manitowoc stock opened at $28.19 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.76 and a quick ratio of 0.89. Manitowoc has a 52 week low of $21.00 and a 52 week high of $44.03.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The business had revenue of $481.50 million during the quarter, compared to analyst estimates of $423.27 million. During the same quarter last year, the company posted ($0.24) earnings per share. The company’s revenue was up 27.3% compared to the same quarter last year. equities research analysts forecast that Manitowoc will post 0.49 EPS for the current fiscal year.
In other Manitowoc news, SVP Thomas G. Musial sold 1,376 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.07, for a total value of $44,128.32. Following the completion of the sale, the senior vice president now directly owns 48,467 shares in the company, valued at $1,554,336.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas G. Musial sold 4,476 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total transaction of $151,467.84. Following the completion of the sale, the senior vice president now owns 54,319 shares of the company’s stock, valued at $1,838,154.96. The disclosure for this sale can be found here. Insiders sold 9,179 shares of company stock valued at $288,486 over the last 90 days. Corporate insiders own 2.82% of the company’s stock.
A number of large investors have recently bought and sold shares of MTW. Cipher Capital LP acquired a new stake in Manitowoc in the third quarter worth $109,000. Invictus RG acquired a new stake in Manitowoc in the third quarter worth $124,000. SeaCrest Wealth Management LLC acquired a new stake in Manitowoc in the fourth quarter worth $129,000. Ameriprise Financial Inc. lifted its stake in shares of Manitowoc by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after buying an additional 3,733 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Manitowoc in the third quarter valued at $225,000. Institutional investors and hedge funds own 79.15% of the company’s stock.
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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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