Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Price Target at $10.86

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) has earned an average rating of "Reduce" from the five analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.86.

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

Insiders Place Their Bets

In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the transaction, the chief executive officer now owns 690,142 shares in the company, valued at $5,990,432.56. This represents a 0.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTW. Strs Ohio purchased a new stake in Manitowoc during the 1st quarter worth about $454,000. Acadian Asset Management LLC lifted its stake in Manitowoc by 127.7% during the first 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 holdings in Manitowoc by 7.3% in the first quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company's stock valued at $1,633,000 after purchasing an additional 13,001 shares in the last quarter. Aristeia Capital L.L.C. acquired a new position in Manitowoc in the first quarter valued at approximately $494,000. Finally, Caxton Associates LLP purchased a new position in Manitowoc in the first quarter valued at approximately $112,000. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Trading Up 3.8%

MTW traded up $0.43 during trading hours on Friday, reaching $11.85. The company's stock had a trading volume of 218,535 shares, compared to its average volume of 292,137. The business's 50-day moving average is $9.97 and its 200-day moving average is $9.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64. The stock has a market cap of $420.11 million, a PE ratio of 9.48 and a beta of 2.02. Manitowoc has a fifty-two week low of $7.06 and a fifty-two week high of $13.46.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The business had revenue of $470.90 million during the quarter, compared to analyst estimates of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS. As a group, equities research analysts predict that Manitowoc will post 0.5 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.