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.
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.
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.
- Get a free copy of the StockNews.com research report on Manitowoc (MTW)
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