Manitowoc (NYSE:MTW) Downgraded by Wall Street Zen to Sell

Key Points

• Manitowoc has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling a negative outlook for the company's shares.
• The company's quarterly earnings fell short of expectations, with an EPS of $0.08 compared to the consensus estimate of $0.20, and revenue of $539.50 million, below the expected $580.18 million.
• Institutional investors own approximately 78.66% of Manitowoc's stock, indicating significant interest from major financial players.

Manitowoc (NYSE:MTW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Monday.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. UBS Group lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $11.00.

Manitowoc Price Performance

MTW stock opened at $9.92 on Monday. The company has a fifty day moving average price of $11.70 and a 200-day moving average price of $10.40. The company has a market capitalization of $351.76 million, a P/E ratio of 7.94 and a beta of 2.18. Manitowoc has a 52-week low of $7.06 and a 52-week high of $13.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.12). The business had revenue of $539.50 million for the quarter, compared to the consensus estimate of $580.18 million. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. Manitowoc's revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. As a group, equities analysts expect that Manitowoc will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new stake in Manitowoc in the second quarter valued at $327,000. Tower Research Capital LLC TRC increased its stake in Manitowoc by 131.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 2,575 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Manitowoc in the second quarter valued at $198,000. BNP Paribas Financial Markets increased its stake in Manitowoc by 556.7% in the second quarter. BNP Paribas Financial Markets now owns 134,112 shares of the industrial products company's stock valued at $1,612,000 after purchasing an additional 113,690 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Manitowoc by 2.4% in the second quarter. Bridgeway Capital Management LLC now owns 327,860 shares of the industrial products company's stock valued at $3,941,000 after purchasing an additional 7,720 shares in the last quarter. 78.66% of the stock is owned by institutional investors.

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.

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