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

Shares of The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) have earned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.56.

A number of research firms have issued reports on MTW. Wells Fargo & Company raised Manitowoc from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $14.00 to $17.00 in a research report on Monday, May 1st. Barclays increased their price objective on Manitowoc from $9.00 to $15.00 in a report on Thursday, May 4th. Citigroup increased their price objective on Manitowoc from $11.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, March 6th. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a report on Sunday, May 21st. Finally, The Goldman Sachs Group downgraded Manitowoc from a “neutral” rating to a “sell” rating and increased their price objective for the company from $13.00 to $15.00 in a report on Monday, April 3rd.

Manitowoc Price Performance

MTW stock opened at $14.95 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.75 and a quick ratio of 0.58. The firm has a market capitalization of $525.34 million, a P/E ratio of -4.75 and a beta of 2.04. The business’s 50-day moving average is $15.69 and its two-hundred day moving average is $13.55. Manitowoc has a 1 year low of $7.53 and a 1 year high of $20.20.

Manitowoc (NYSE:MTW – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.41. The company had revenue of $508.30 million for the quarter, compared to analyst estimates of $479.97 million. Manitowoc had a positive return on equity of 8.98% and a negative net margin of 5.29%. Manitowoc’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 EPS. Analysts anticipate that Manitowoc will post 1.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Manitowoc by 2.5% in the 1st quarter. JPMorgan Chase & Co. now owns 526,525 shares of the industrial products company’s stock valued at $7,941,000 after purchasing an additional 12,948 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Manitowoc in the 1st quarter valued at approximately $339,000. US Bancorp DE lifted its holdings in shares of Manitowoc by 43.6% in the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,146 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Manitowoc by 59.8% in the 1st quarter. MetLife Investment Management LLC now owns 15,934 shares of the industrial products company’s stock valued at $240,000 after buying an additional 5,963 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Manitowoc by 2.7% in the 1st quarter. BlackRock Inc. now owns 3,635,795 shares of the industrial products company’s stock valued at $54,827,000 after buying an additional 95,428 shares during the period. Hedge funds and other institutional investors own 74.27% of the company’s stock.

About Manitowoc

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The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.