UBS Group Cuts Manitowoc (NYSE:MTW) Price Target to $9.00

Manitowoc (NYSE:MTW) had its price target cut by equities research analysts at UBS Group from $13.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price points to a potential upside of 20.27% from the stock’s current price.

Manitowoc Stock Down 4.4 %

NYSE MTW traded down $0.35 during trading hours on Monday, hitting $7.48. 303,071 shares of the company were exchanged, compared to its average volume of 281,022. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The firm has a market cap of $262.91 million, a price-to-earnings ratio of 4.83 and a beta of 1.79. The company has a 50 day moving average of $9.86 and a two-hundred day moving average of $9.75. Manitowoc has a 52-week low of $7.21 and a 52-week high of $13.93.

Manitowoc (NYSE:MTW) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. Equities research analysts anticipate that Manitowoc will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Manitowoc

Several large investors have recently bought and sold shares of the business. First Eagle Investment Management LLC boosted its position in shares of Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company’s stock worth $5,379,000 after acquiring an additional 397,837 shares in the last quarter. Front Street Capital Management Inc. boosted its holdings in Manitowoc by 7.8% in the fourth quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company’s stock valued at $30,764,000 after purchasing an additional 243,077 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in Manitowoc in the third quarter valued at approximately $2,305,000. Kennedy Capital Management LLC increased its stake in Manitowoc by 61.9% in the fourth quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company’s stock valued at $5,558,000 after purchasing an additional 232,744 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Manitowoc by 35.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company’s stock worth $5,025,000 after buying an additional 144,390 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

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.