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

Key Points

• Manitowoc has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for investors.
• UBS Group raised its target price for Manitowoc shares from $9.00 to $11.00, aligning with multiple analysts rating the stock as "neutral."
• The company reported disappointing earnings results, with earnings per share of $0.08, missing expectations and a year-over-year revenue decline of 4%.

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

Other research analysts have also recently issued research reports about the stock. 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. 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, Barclays lifted their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Manitowoc presently has a consensus rating of "Reduce" and an average target price of $11.00.

Manitowoc Trading Up 0.5%

Shares of Manitowoc stock opened at $10.18 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68. The firm has a fifty day moving average price of $11.48 and a 200 day moving average price of $10.34. Manitowoc has a 1 year low of $7.06 and a 1 year high of $13.61. The stock has a market cap of $361.11 million, a PE ratio of 8.15 and a beta of 2.17.

Manitowoc (NYSE:MTW - Get Free Report) last issued its 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). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The business had revenue of $539.50 million for the quarter, compared to analysts' expectations of $580.18 million. During the same period last year, the business earned $0.25 EPS. The company's revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts predict that Manitowoc will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC grew its position in shares of Manitowoc by 1.9% in the first quarter. SummerHaven Investment Management LLC now owns 76,640 shares of the industrial products company's stock valued at $658,000 after purchasing an additional 1,440 shares during the period. Northern Trust Corp grew its position in shares of Manitowoc by 0.5% in the fourth quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock valued at $2,779,000 after purchasing an additional 1,552 shares during the period. TCW Group Inc. grew its position in shares of Manitowoc by 2.9% in the first quarter. TCW Group Inc. now owns 58,949 shares of the industrial products company's stock valued at $506,000 after purchasing an additional 1,671 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Manitowoc by 0.5% in the second quarter. Gamco Investors INC. ET AL now owns 375,209 shares of the industrial products company's stock valued at $4,510,000 after purchasing an additional 1,900 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Manitowoc by 13.8% in the first quarter. MetLife Investment Management LLC now owns 19,564 shares of the industrial products company's stock valued at $168,000 after purchasing an additional 2,368 shares during the period. Hedge funds and other institutional investors 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.

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