The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.86 Consensus PT from Analysts

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) has been given an average rating of "Reduce" by the five analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.86.

MTW has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. UBS Group raised their target price on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, May 16th.

Manitowoc Stock Performance

Shares of Manitowoc stock traded down $0.02 during trading hours on Friday, reaching $11.28. The company's stock had a trading volume of 616,360 shares, compared to its average volume of 293,705. Manitowoc has a one year low of $7.06 and a one year high of $13.46. The company's 50 day simple moving average is $9.89 and its 200 day simple moving average is $9.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.64 and a current ratio of 1.90. The stock has a market cap of $399.80 million, a P/E ratio of 9.02 and a beta of 2.02.

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

Insider Transactions at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were bought at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the acquisition, the chief executive officer now owns 690,142 shares of the company's stock, valued at approximately $5,990,432.56. This trade 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 accessible through the SEC website. Insiders own 2.52% of the company's stock.

Institutional Investors Weigh In On Manitowoc

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

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.