The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.50 Consensus Price Target from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned an average recommendation of “Reduce” from the five analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.50.

Several research firms have recently commented on MTW. Weiss Ratings reiterated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price objective (up from $9.00) on shares of Manitowoc in a report on Friday, January 23rd.

Manitowoc Stock Up 3.8%

NYSE MTW opened at $13.41 on Tuesday. The business has a 50 day moving average price of $12.74 and a two-hundred day moving average price of $11.44. The stock has a market cap of $475.48 million, a PE ratio of 8.43 and a beta of 1.88. Manitowoc has a fifty-two week low of $7.06 and a fifty-two week high of $14.32. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Manitowoc had a return on equity of 0.87% and a net margin of 2.63%.The firm had revenue of $553.40 million for the quarter, compared to analysts’ expectations of $550.00 million. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Manitowoc by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,139,051 shares of the industrial products company’s stock valued at $21,412,000 after purchasing an additional 6,043 shares in the last quarter. First Eagle Investment Management LLC grew its position in Manitowoc by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 834,869 shares of the industrial products company’s stock worth $8,357,000 after buying an additional 16,046 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Manitowoc by 0.4% in the second quarter. Geode Capital Management LLC now owns 826,240 shares of the industrial products company’s stock valued at $9,934,000 after buying an additional 3,569 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Manitowoc by 1.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock valued at $3,982,000 after buying an additional 4,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Manitowoc by 35.7% during the 2nd quarter. AQR Capital Management LLC now owns 394,281 shares of the industrial products company’s stock valued at $4,739,000 after acquiring an additional 103,829 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.