Manitowoc Company, Inc. (The) (MTW) Stock Rating Reaffirmed by Jefferies Group LLC

Manitowoc Company, Inc. (The) (NYSE:MTW)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued on Friday. They currently have a $10.50 price objective on the industrial products company’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 5.74% from the stock’s current price. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q3 2017 earnings at ($0.05) EPS.

Several other research analysts also recently commented on the company. Zacks Investment Research raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Monday, September 11th. J P Morgan Chase & Co raised Manitowoc Company, Inc. (The) from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $7.00 in a report on Thursday, August 17th. BidaskClub raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a report on Friday, August 11th. UBS AG reaffirmed a “neutral” rating and set a $8.00 target price (up from $6.00) on shares of Manitowoc Company, Inc. (The) in a report on Thursday, August 10th. Finally, ValuEngine raised Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Shares of Manitowoc Company, Inc. (NYSE MTW) opened at 9.93 on Friday. The company’s market cap is $1.40 billion. The company has a 50-day moving average price of $8.31 and a 200-day moving average price of $6.60. Manitowoc Company, Inc. has a 12-month low of $3.65 and a 12-month high of $9.97.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million for the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. On average, analysts predict that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current year.

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Several large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Manitowoc Company, Inc. (The) by 1.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 41,085 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 406 shares during the period. Advisor Group Inc. lifted its stake in shares of Manitowoc Company, Inc. (The) by 2.4% in the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares during the period. Bank of America Corp DE lifted its stake in shares of Manitowoc Company, Inc. (The) by 1.6% in 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. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of Manitowoc Company, Inc. (The) by 6.3% in the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 28,575 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 1,700 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in shares of Manitowoc Company, Inc. (The) by 1.7% in the 1st quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock valued at $595,000 after purchasing an additional 1,783 shares during the period. 80.98% of the stock is currently owned by institutional investors.

About Manitowoc Company, Inc. (The)

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 Company, Inc. (The) (NYSE:MTW)

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