Manitowoc (NYSE:MTW) Raised to "Hold" at Wall Street Zen

Key Points

• Manitowoc (NYSE:MTW) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen.
• Multiple research firms have given varying price targets, with the consensus sitting at $11.00, and three analysts currently rating the stock as a hold.
• The company's recent earnings report showed a significant miss on expectations, with earnings per share at $0.08 compared to the consensus estimate of $0.20.

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

A number of other research firms have also recently issued reports on MTW. Barclays raised their price target on shares of Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Monday, July 21st. Robert W. Baird reduced their target price on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Finally, UBS Group raised their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $11.00.

Manitowoc Price Performance

Shares of MTW opened at $10.1250 on Friday. The company has a market cap of $359.02 million, a price-to-earnings ratio of 8.10 and a beta of 2.07. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.61. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $11.83 and a two-hundred day moving average of $10.40.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.12). The firm had revenue of $539.50 million during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.25 earnings per share. As a group, analysts predict that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Manitowoc

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Arrowstreet Capital Limited Partnership grew its position in Manitowoc by 154.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 340,280 shares of the industrial products company's stock valued at $4,090,000 after buying an additional 206,313 shares during the period. GSA Capital Partners LLP grew its position in shares of Manitowoc by 272.9% in the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company's stock valued at $2,064,000 after purchasing an additional 175,879 shares during the period. Russell Investments Group Ltd. grew its position in shares of Manitowoc by 779.8% in the first quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company's stock valued at $1,400,000 after purchasing an additional 144,498 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Manitowoc by 35.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 550,416 shares of the industrial products company's stock valued at $5,025,000 after purchasing an additional 144,390 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Manitowoc by 127.7% in the first quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company's stock valued at $2,146,000 after purchasing an additional 140,246 shares during the period. Institutional investors and hedge funds own 78.66% of the company's stock.

Manitowoc Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.