The Manitowoc Company, Inc. (NYSE:MTW) Given Average Rating of "Reduce" by Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) have received an average recommendation of "Reduce" from the five analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $16.83.

MTW has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Manitowoc from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, February 16th. JPMorgan Chase & Co. reduced their price objective on Manitowoc from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 16th. Barclays lowered their target price on Manitowoc from $15.00 to $12.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, StockNews.com cut Manitowoc from a "buy" rating to a "hold" rating in a research report on Thursday, February 22nd.

Institutional Investors Weigh In On Manitowoc

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Manitowoc in the 3rd quarter worth $240,000. Summit Global Investments purchased a new position in shares of Manitowoc during the 3rd quarter worth approximately $511,000. Commonwealth Equity Services LLC bought a new position in shares of Manitowoc in the 3rd quarter worth approximately $178,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Manitowoc by 8.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,447 shares of the industrial products company's stock worth $383,000 after acquiring an additional 1,928 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Manitowoc by 18.9% in the 3rd quarter. Strs Ohio now owns 41,500 shares of the industrial products company's stock valued at $624,000 after purchasing an additional 6,600 shares during the period. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Stock Performance

Shares of MTW traded down $0.10 on Monday, reaching $12.78. 148,964 shares of the company's stock traded hands, compared to its average volume of 254,523. The stock's 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $14.59. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. Manitowoc has a 52-week low of $12.20 and a 52-week high of $19.81. The stock has a market cap of $453.43 million, a PE ratio of 11.80 and a beta of 2.04.

Manitowoc (NYSE:MTW - Get Free Report) last announced its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14). The business had revenue of $595.80 million for the quarter, compared to analysts' expectations of $583.90 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. On average, analysts forecast that Manitowoc will post 1.29 earnings per share for the current fiscal year.

About Manitowoc

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.