Manitowoc (NYSE:MTW) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Manitowoc (NYSE:MTW) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research firms also recently weighed in on MTW. Wells Fargo & Company started coverage on Manitowoc in a research note on Thursday. They set an “underweight” rating and a $9.00 price target on the stock. Robert W. Baird decreased their price objective on Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Barclays increased their target price on Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Manitowoc currently has an average rating of “Reduce” and an average price target of $10.25.

Manitowoc Trading Down 4.0%

MTW traded down $0.46 during trading on Friday, hitting $11.09. The company’s stock had a trading volume of 309,694 shares, compared to its average volume of 279,360. The firm has a market capitalization of $393.23 million, a P/E ratio of 8.87 and a beta of 2.15. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.61. The stock’s fifty day moving average price is $10.54 and its 200-day moving average price is $10.94. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $354.30 million for the quarter. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. Analysts anticipate that Manitowoc will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTW. TCW Group Inc. boosted its stake in shares of Manitowoc by 2.9% in the 1st quarter. TCW Group Inc. now owns 58,949 shares of the industrial products company’s stock worth $506,000 after buying an additional 1,671 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Manitowoc by 272.9% during the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 175,879 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Manitowoc by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock worth $4,002,000 after acquiring an additional 64,983 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Manitowoc by 126.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,573 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 31,047 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Manitowoc by 0.8% in the 1st quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company’s stock valued at $10,159,000 after purchasing an additional 9,599 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

About Manitowoc

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.