Shares of The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on MTW shares. Robert W. Baird reduced their target price on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. UBS Group boosted their price target on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.86.
Get Our Latest Stock Report on Manitowoc
Manitowoc Price Performance
The company has a fifty day simple moving average of $11.31 and a two-hundred day simple moving average of $9.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.64 and a current ratio of 1.90. The company has a market capitalization of $460.05 million, a price-to-earnings ratio of 10.38 and a beta of 2.03.
Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The company's revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 earnings per share. As a group, research analysts anticipate that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current year.
Insider Activity at Manitowoc
In other news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the acquisition, the chief executive officer directly owned 690,142 shares in the company, valued at approximately $5,990,432.56. This represents a 0.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.52% of the stock is currently owned by insiders.
Institutional Trading of Manitowoc
A number of institutional investors and hedge funds have recently made changes to their positions in MTW. First Eagle Investment Management LLC increased its holdings in shares of Manitowoc by 207.9% during the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock worth $5,379,000 after buying an additional 397,837 shares during the last quarter. Front Street Capital Management Inc. increased its holdings in shares of Manitowoc by 7.8% during the 4th quarter. Front Street Capital Management Inc. now owns 3,369,583 shares of the industrial products company's stock worth $30,764,000 after buying an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Manitowoc by 61.9% during the 4th quarter. Kennedy Capital Management LLC now owns 608,730 shares of the industrial products company's stock worth $5,558,000 after buying an additional 232,744 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Manitowoc by 272.9% during the 1st quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company's stock worth $2,064,000 after buying an additional 175,879 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Manitowoc by 779.8% in the 1st 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 in 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.
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