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

Key Points

• The Manitowoc Company, Inc. (NYSE:MTW) has received an average recommendation of "Reduce" from five research firms, with one sell rating and four hold ratings.
• The average twelve-month price target for Manitowoc's stock is currently set at $11.00, reflecting recent adjustments from analysts.
• In its latest earnings report, Manitowoc missed expectations with an EPS of $0.08, falling short of the consensus estimate of $0.20.

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) has earned an average recommendation of "Reduce" from the five research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have recently commented on MTW. Wall Street Zen upgraded Manitowoc from a "sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Barclays upped their target price on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research note on Monday, July 21st. Robert W. Baird lowered their target price on Manitowoc from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Manitowoc in a research note on Saturday, September 27th.

Manitowoc Stock Performance

Manitowoc stock traded up $0.18 during trading hours on Friday, hitting $10.49. 174,328 shares of the stock traded hands, compared to its average volume of 282,935. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68. The firm's 50 day moving average price is $10.43 and its 200-day moving average price is $10.36. The stock has a market capitalization of $371.80 million, a price-to-earnings ratio of 8.39 and a beta of 2.16. Manitowoc has a 1 year low of $7.06 and a 1 year high of $13.61.

Manitowoc (NYSE:MTW - Get Free Report) last issued its earnings results on Thursday, August 7th. The industrial products company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.12). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The company had revenue of $539.50 million during the quarter, compared to analysts' expectations of $580.18 million. During the same quarter in the previous year, the company earned $0.25 EPS. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts expect that Manitowoc will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in Manitowoc by 16.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company's stock worth $4,002,000 after purchasing an additional 64,983 shares during the period. Millennium Management LLC acquired a new position in Manitowoc in the 4th quarter worth about $721,000. Dynamic Technology Lab Private Ltd acquired a new position in Manitowoc in the 1st quarter worth about $380,000. Boston Partners acquired a new position in Manitowoc in the 1st quarter worth about $248,000. Finally, Russell Investments Group Ltd. raised 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 worth $1,400,000 after purchasing an additional 144,498 shares during the period. Institutional investors and hedge funds own 78.66% of the company's stock.

Manitowoc Company Profile

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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