The Manitowoc Company, Inc. (NYSE:MTW) Receives $16.83 Consensus PT from Analysts

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus rating of “Reduce” from the five ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.83.

A number of brokerages recently commented on MTW. Barclays reduced their price objective on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. StockNews.com lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company cut their price target on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th.

Manitowoc Stock Down 1.3 %

Shares of NYSE MTW opened at $12.62 on Monday. The firm has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $14.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. Manitowoc has a 1 year low of $12.20 and a 1 year high of $19.81. The company has a market cap of $447.76 million, a P/E ratio of 11.58 and a beta of 2.04.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14). Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company had revenue of $595.80 million for the quarter, compared to the consensus estimate of $583.90 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Research analysts anticipate that Manitowoc will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Manitowoc by 19.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after acquiring an additional 823 shares during the period. Swiss National Bank raised its position in shares of Manitowoc by 1.7% in the third quarter. Swiss National Bank now owns 77,250 shares of the industrial products company’s stock worth $1,163,000 after acquiring an additional 1,300 shares during the period. TCW Group Inc. raised its position in shares of Manitowoc by 1.9% in the fourth quarter. TCW Group Inc. now owns 81,415 shares of the industrial products company’s stock worth $1,359,000 after acquiring an additional 1,537 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Manitowoc by 8.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,447 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 1,928 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of Manitowoc by 6.1% in the third quarter. Avantax Advisory Services Inc. now owns 35,810 shares of the industrial products company’s stock worth $539,000 after acquiring an additional 2,071 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company Profile

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.