The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.88 and traded as high as $13.62. Manitowoc shares last traded at $13.40, with a volume of 339,857 shares changing hands.
Analyst Ratings Changes
Several research firms recently weighed in on MTW. UBS Group lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Robert W. Baird dropped their target price on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Manitowoc presently has a consensus rating of "Hold" and a consensus target price of $10.86.
View Our Latest Stock Report on MTW
Manitowoc Trading Up 0.9%
The firm has a market capitalization of $474.90 million, a PE ratio of 10.72 and a beta of 2.03. The company's 50-day moving average price is $11.21 and its 200-day moving average price is $9.88. 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 (NYSE:MTW - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Manitowoc had a return on equity of 0.63% and a net margin of 2.09%. The firm had revenue of $470.90 million for the quarter, compared to analysts' expectations of $479.39 million. During the same period last year, the firm posted $0.14 earnings per share. Manitowoc's revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.
Insider Buying and Selling
In other Manitowoc news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer owned 690,142 shares in the company, valued at $5,990,432.56. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.52% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MTW. First Eagle Investment Management LLC grew its position in shares of Manitowoc by 207.9% in the fourth quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after purchasing an additional 397,837 shares during the last quarter. Quantbot Technologies LP raised its holdings in Manitowoc by 20.9% in the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after acquiring an additional 1,771 shares during the last quarter. Sei Investments Co. acquired a new position in Manitowoc in the 4th quarter valued at $217,000. LPL Financial LLC raised its holdings in Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after acquiring an additional 1,030 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Manitowoc by 84.5% in the 4th quarter. JPMorgan Chase & Co. now owns 228,645 shares of the industrial products company's stock valued at $2,088,000 after acquiring an additional 104,709 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.
About Manitowoc
(
Get Free Report)
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.
Further Reading
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