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 stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Tuesday.

Several other brokerages have also recently commented on MTW. 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. Barclays lifted their price objective on Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a report on Monday, July 21st. Finally, Robert W. Baird dropped their price target on Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $11.00.

Manitowoc Stock Down 0.2%

MTW stock traded down $0.03 during mid-day trading on Tuesday, reaching $10.22. The company had a trading volume of 378,970 shares, compared to its average volume of 299,473. The company has a market capitalization of $362.22 million, a price-to-earnings ratio of 8.17 and a beta of 2.17. 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 stock has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $10.33. Manitowoc has a 52 week low of $7.06 and a 52 week high of $13.61.

Manitowoc (NYSE:MTW - Get Free Report) last announced 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 analyst estimates of $580.18 million. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities analysts predict that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MTW. Northern Trust Corp increased its stake in shares of Manitowoc by 0.5% in the 4th quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock valued at $2,779,000 after acquiring an additional 1,552 shares in the last quarter. Jane Street Group LLC increased its position in Manitowoc by 88.4% in the 4th quarter. Jane Street Group LLC now owns 153,792 shares of the industrial products company's stock valued at $1,404,000 after buying an additional 72,145 shares in the last quarter. Bank of America Corp DE raised its stake in Manitowoc by 15.0% during the 4th quarter. Bank of America Corp DE now owns 75,982 shares of the industrial products company's stock worth $694,000 after buying an additional 9,906 shares during the period. Balyasny Asset Management L.P. bought a new position in Manitowoc in the fourth quarter worth approximately $156,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Manitowoc in the fourth quarter valued at approximately $115,000. 78.66% of the stock is owned by institutional investors and hedge funds.

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.