The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.86 Average Price Target from Brokerages

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) has earned a consensus rating of "Reduce" from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.86.

A number of equities research analysts recently weighed in on MTW shares. Robert W. Baird dropped their price target on Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. UBS Group raised 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.

Insider Buying and Selling at Manitowoc

In other news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the firm's 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 transaction, the chief executive officer now owns 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Manitowoc in the 1st quarter valued at $454,000. Acadian Asset Management LLC boosted its position in shares of Manitowoc by 127.7% in the 1st quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company's stock worth $2,146,000 after purchasing an additional 140,246 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Manitowoc by 7.3% in the 1st quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company's stock worth $1,633,000 after purchasing an additional 13,001 shares during the last quarter. Aristeia Capital L.L.C. bought a new position in shares of Manitowoc in the 1st quarter worth $494,000. Finally, Caxton Associates LLP bought a new position in shares of Manitowoc in the 1st quarter worth $112,000. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Price Performance

MTW stock traded down $0.30 during midday trading on Tuesday, reaching $10.54. 140,719 shares of the company's stock traded hands, compared to its average volume of 292,711. The company has a 50-day simple moving average of $9.01 and a two-hundred day simple moving average of $9.53. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.46. The company has a market cap of $373.57 million, a price-to-earnings ratio of 6.80 and a beta of 1.92. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The business had revenue of $470.90 million for the quarter, compared to analyst estimates of $479.39 million. During the same period in the prior year, the business earned $0.14 earnings per share. The company's revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts anticipate that Manitowoc will post 0.5 earnings per share for the current 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.