Manitowoc (NYSE:MTW) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Manitowoc (NYSE: MTW) from a "hold" to a "sell" rating, indicating a more pessimistic outlook for the stock.
• Manitowoc reported earnings of $0.08 per share for the last quarter, missing the consensus estimate of $0.20, and experienced a revenue decline of 4.0% year-over-year.
• Despite the downgrade, analysts have set a consensus target price of $11.00 for Manitowoc, with mixed ratings from other firms, including two sell ratings and three holds.

Manitowoc (NYSE:MTW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other brokerages have also issued reports on MTW. Robert W. Baird lowered their target price on Manitowoc from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Barclays raised their target price on Manitowoc from $9.00 to $11.00 and gave the stock an "underweight" rating in a research report on Monday, July 21st. Finally, UBS Group raised their target price on Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $11.00.

Manitowoc Price Performance

Shares of MTW traded down $0.0480 during trading hours on Friday, reaching $9.2920. The stock had a trading volume of 360,349 shares, compared to its average volume of 344,801. Manitowoc has a 12 month low of $7.06 and a 12 month high of $13.61. The stock has a market capitalization of $329.49 million, a PE ratio of 7.43 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07. The company's 50-day moving average is $11.90 and its two-hundred day moving average is $10.39.

Manitowoc (NYSE:MTW - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.12). Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $580.18 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm's revenue was down 4.0% on a year-over-year basis. Research analysts expect that Manitowoc will post 0.5 EPS for the current year.

Institutional Trading of Manitowoc

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Manitowoc during the 4th quarter worth about $35,000. Tower Research Capital LLC TRC grew its holdings in Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company's stock worth $55,000 after acquiring an additional 2,575 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Manitowoc during the 2nd quarter worth about $84,000. CWM LLC grew its holdings in Manitowoc by 669.9% during the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company's stock worth $88,000 after acquiring an additional 6,377 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Manitowoc during the 2nd quarter worth about $105,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.