The Manitowoc Company, Inc. (NYSE:MTW) Receives Average Recommendation of "Reduce" from Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) have received a consensus rating of "Reduce" from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $10.86.

A number of research analysts have recently commented on MTW shares. Robert W. Baird dropped their price objective on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. UBS Group upped their target price on Manitowoc from $9.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, May 16th.

Insider Buying and Selling

In other news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the transaction, the chief executive officer directly owned 690,142 shares in the company, valued at $5,990,432.56. This represents a 0.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.52% of the company's stock.

Institutional Trading of Manitowoc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Manitowoc in the 4th quarter worth about $35,000. Quantbot Technologies LP lifted its position in Manitowoc by 20.9% during the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock worth $94,000 after acquiring an additional 1,771 shares in the last quarter. LPL Financial LLC lifted its position in Manitowoc by 10.0% during the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock worth $104,000 after acquiring an additional 1,030 shares in the last quarter. GAMMA Investing LLC lifted its position in Manitowoc by 3,309.6% during the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock worth $104,000 after acquiring an additional 11,782 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Manitowoc in the 1st quarter valued at approximately $112,000. Hedge funds and other institutional investors own 78.66% of the company's stock.

Manitowoc Trading Down 2.6%

MTW traded down $0.33 during mid-day trading on Wednesday, hitting $12.31. 235,819 shares of the stock were exchanged, compared to its average volume of 282,870. The firm's fifty day moving average is $11.66 and its two-hundred day moving average is $10.04. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.62. The company has a current ratio of 1.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59. The company has a market cap of $436.27 million, a PE ratio of 9.85 and a beta of 2.03.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $470.90 million for the quarter, compared to analysts' expectations of $479.39 million. During the same quarter last year, the company earned $0.14 EPS. Manitowoc's revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts forecast that Manitowoc will post 0.5 earnings per share for the current fiscal year.

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.