Manitowoc (NYSE:MTW) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

Manitowoc (NYSE:MTW - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $17.00 to $15.00 in a research report report published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company's stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Manitowoc from a buy rating to a hold rating in a report on Thursday, February 22nd. Wells Fargo & Company decreased their target price on Manitowoc from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Friday, February 16th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $17.33.

Manitowoc Stock Performance

Shares of MTW stock traded down $0.44 on Tuesday, reaching $13.02. The stock had a trading volume of 188,104 shares, compared to its average volume of 259,707. The stock has a market cap of $461.95 million, a P/E ratio of 11.94 and a beta of 2.04. Manitowoc has a 1 year low of $12.20 and a 1 year high of $19.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. The company has a 50 day simple moving average of $13.90 and a 200 day simple moving average of $14.62.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.14). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The firm had revenue of $595.80 million during the quarter, compared to analysts' expectations of $583.90 million. During the same quarter last year, the business earned $0.74 earnings per share. The business's quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Manitowoc will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently bought and sold shares of MTW. JPMorgan Chase & Co. raised its holdings in Manitowoc by 2.5% during the first quarter. JPMorgan Chase & Co. now owns 526,525 shares of the industrial products company's stock valued at $7,941,000 after acquiring an additional 12,948 shares during the period. American Century Companies Inc. bought a new stake in shares of Manitowoc in the first quarter worth about $339,000. US Bancorp DE increased its holdings in shares of Manitowoc by 43.6% in the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company's stock worth $57,000 after purchasing an additional 1,146 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Manitowoc by 59.8% in the first quarter. MetLife Investment Management LLC now owns 15,934 shares of the industrial products company's stock worth $240,000 after purchasing an additional 5,963 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Manitowoc by 2.7% in the first quarter. BlackRock Inc. now owns 3,635,795 shares of the industrial products company's stock worth $54,827,000 after purchasing an additional 95,428 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

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.