Manitowoc (NYSE:MTW) Receives "Hold (C-)" Rating from Weiss Ratings

Key Points

• Manitowoc's stock has received a "Hold (C-)" rating from Weiss Ratings, amidst various adjustments from other analysts, including a target price drop from Robert W. Baird.
• The company's recent earnings report showed a loss, posting $0.08 earnings per share, missing estimates by $0.12, and a revenue decline of 4.0% year-over-year.
• Institutional investors hold a significant stake in Manitowoc, with 78.66% of the stock owned by such investors, reflecting growing interest from large firms.

Manitowoc (NYSE:MTW - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the stock. Robert W. Baird cut their target price on shares of Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Barclays upped their target price on shares of Manitowoc from $9.00 to $11.00 and gave the company an "underweight" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Manitowoc from a "sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $11.00.

Manitowoc Stock Up 3.4%

MTW opened at $10.83 on Wednesday. The firm's 50-day simple moving average is $10.30 and its 200-day simple moving average is $10.38. 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 has a twelve month low of $7.06 and a twelve month high of $13.61. The firm has a market cap of $384.03 million, a price-to-earnings ratio of 8.66 and a beta of 2.16.

Manitowoc (NYSE:MTW - Get Free Report) last posted 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). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $580.18 million. During the same period in the previous year, the company posted $0.25 EPS. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Trading of Manitowoc

A number of large investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in Manitowoc during the 2nd quarter worth approximately $327,000. Tower Research Capital LLC TRC increased its stake in Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company's stock worth $55,000 after purchasing an additional 2,575 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Manitowoc during the 2nd quarter worth approximately $198,000. BNP Paribas Financial Markets increased its stake in Manitowoc by 556.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 134,112 shares of the industrial products company's stock worth $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% during the 2nd quarter. Bridgeway Capital Management LLC now owns 327,860 shares of the industrial products company's stock worth $3,941,000 after purchasing an additional 7,720 shares in the last quarter. 78.66% of the stock is owned by institutional investors.

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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