Manitowoc (NYSE:MTW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Manitowoc (NYSE:MTW) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Barclays raised their target price on Manitowoc from $16.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday. Weiss Ratings upgraded Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company increased their price objective on Manitowoc from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Sell” and an average target price of $17.50.

Manitowoc Price Performance

NYSE:MTW opened at $24.41 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11. The company has a 50-day moving average of $21.99 and a 200-day moving average of $15.84. Manitowoc has a 52 week low of $10.29 and a 52 week high of $25.31. The company has a market capitalization of $880.04 million, a price-to-earnings ratio of 34.37 and a beta of 1.78.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, November 3rd. The industrial products company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. Manitowoc had a net margin of 1.10% and a return on equity of 4.78%. The business had revenue of $613.80 million for the quarter, compared to analysts’ expectations of $577.00 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Manitowoc will post 1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTW. Front Street Capital Management Inc. bought a new stake in Manitowoc during the 2nd quarter worth approximately $44,547,000. Dimensional Fund Advisors LP raised its position in Manitowoc by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,750 shares of the industrial products company’s stock valued at $22,586,000 after purchasing an additional 12,863 shares during the last quarter. Goldstein Advisors LLC raised its position in Manitowoc by 3,280.8% in the 3rd quarter. Goldstein Advisors LLC now owns 652,493 shares of the industrial products company’s stock valued at $14,002,000 after purchasing an additional 633,193 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Manitowoc by 37.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company’s stock worth $4,673,000 after purchasing an additional 108,347 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Manitowoc by 8.6% in the first quarter. Empowered Funds LLC now owns 224,437 shares of the industrial products company’s stock worth $2,615,000 after purchasing an additional 17,694 shares in the last quarter. Institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.