The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.71 and traded as high as $12.83. Manitowoc shares last traded at $12.76, with a volume of 189,324 shares traded.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird cut their price objective on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.86.
View Our Latest Stock Report on Manitowoc
Manitowoc Stock Up 0.9%
The firm has a market capitalization of $456.47 million, a P/E ratio of 10.30 and a beta of 2.03. The firm's 50-day moving average is $10.81 and its 200 day moving average is $9.76. 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 issued its quarterly earnings results 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 net margin of 2.09% and a return on equity of 0.63%. The business had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm's quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts predict that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.
Insider Transactions at Manitowoc
In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the purchase, the chief executive officer owned 690,142 shares of the company's stock, valued at approximately $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.52% of the company's stock.
Institutional Investors Weigh In On Manitowoc
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. First Eagle Investment Management LLC increased its stake in Manitowoc by 207.9% in the 4th quarter. First Eagle Investment Management LLC now owns 589,154 shares of the industrial products company's stock valued at $5,379,000 after buying an additional 397,837 shares during the last quarter. Front Street Capital Management Inc. increased its stake 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 purchasing an additional 243,077 shares during the last quarter. Kennedy Capital Management LLC increased its stake 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 purchasing an additional 232,744 shares during the last quarter. GSA Capital Partners LLP increased its stake 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 purchasing an additional 175,879 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Manitowoc by 779.8% during the 1st quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company's stock worth $1,400,000 after purchasing an additional 144,498 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.
Manitowoc Company Profile
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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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