Barclays Increases Manitowoc (NYSE:MTW) Price Target to $11.00

Manitowoc (NYSE:MTW - Free Report) had its target price increased by Barclays from $9.00 to $11.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company's stock.

A number of other equities analysts also recently commented on the stock. Robert W. Baird reduced their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. UBS Group increased their price objective 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. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.26.

Manitowoc Stock Down 1.0%

NYSE MTW traded down $0.13 on Monday, reaching $13.09. The company had a trading volume of 83,312 shares, compared to its average volume of 269,984. The firm has a market capitalization of $463.81 million, a price-to-earnings ratio of 10.47 and a beta of 2.03. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.64 and a current ratio of 1.90. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.61. The company's fifty day moving average is $11.71 and its 200-day moving average is $10.09.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The company had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a return on equity of 0.63% and a net margin of 2.09%. Manitowoc's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, research analysts forecast that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at Manitowoc

In other news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the purchase, the chief executive officer owned 690,142 shares of the company's stock, valued at approximately $5,990,432.56. This trade represents a 0.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.52% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its holdings in Manitowoc by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 78,512 shares of the industrial products company's stock valued at $944,000 after acquiring an additional 1,872 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Manitowoc by 8.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 44,145 shares of the industrial products company's stock valued at $569,000 after acquiring an additional 3,354 shares during the period. Bangor Savings Bank bought a new position in Manitowoc in the 2nd quarter valued at about $120,000. Strs Ohio bought a new position in Manitowoc in the 1st quarter valued at about $454,000. Finally, Acadian Asset Management LLC raised its holdings in Manitowoc by 127.7% in the 1st quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company's stock valued at $2,146,000 after acquiring an additional 140,246 shares during the period. 78.66% of the stock is owned by institutional investors and hedge funds.

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.