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

Shares of The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the five analysts that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.86.

MTW has been the topic of a number of recent research reports. Robert W. Baird cut their target price on Manitowoc from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note 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.

Insider Transactions at Manitowoc

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer owned 690,142 shares of the company's stock, valued at $5,990,432.56. This represents a 0.44% increase in their position. The transaction was disclosed in a legal 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its stake in shares of Manitowoc by 10.0% during the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 1,030 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Manitowoc by 1.9% during the first quarter. SummerHaven Investment Management LLC now owns 76,640 shares of the industrial products company's stock valued at $658,000 after purchasing an additional 1,440 shares in the last quarter. Northern Trust Corp raised its stake in shares of Manitowoc by 0.5% during the fourth quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company's stock valued at $2,779,000 after purchasing an additional 1,552 shares in the last quarter. TCW Group Inc. raised its stake in shares of Manitowoc by 2.9% during the first quarter. TCW Group Inc. now owns 58,949 shares of the industrial products company's stock valued at $506,000 after purchasing an additional 1,671 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 1,771 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Stock Performance

MTW traded down $0.28 during trading hours on Wednesday, hitting $12.36. 40,011 shares of the stock were exchanged, compared to its average volume of 281,972. The stock has a 50-day simple moving average of $11.62 and a 200-day simple moving average of $10.01. Manitowoc has a 12 month low of $7.06 and a 12 month high of $13.62. The stock has a market cap of $438.18 million, a price-to-earnings ratio of 9.88 and a beta of 2.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share (EPS) 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 firm had revenue of $470.90 million for the quarter, compared to the consensus estimate of $479.39 million. During the same quarter last year, the business earned $0.14 earnings per share. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts anticipate that Manitowoc will post 0.5 earnings per share for the current 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.