The Manitowoc Company, Inc. (NYSE:MTW) Receives $16.83 Average Price Target from Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given an average rating of “Reduce” by the five ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $16.83.

MTW has been the topic of a number of analyst reports. StockNews.com cut Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Wells Fargo & Company cut their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. cut their target price on Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, Barclays cut their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday.

Institutional Investors Weigh In On Manitowoc

Several institutional investors have recently bought and sold shares of MTW. Assenagon Asset Management S.A. boosted its holdings in Manitowoc by 1,292.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after buying an additional 479,662 shares during the last quarter. Federated Hermes Inc. lifted its stake in Manitowoc by 44.4% in the 4th quarter. Federated Hermes Inc. now owns 386,958 shares of the industrial products company’s stock worth $6,458,000 after purchasing an additional 119,074 shares in the last quarter. Vanguard Group Inc. lifted its stake in Manitowoc by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after purchasing an additional 79,213 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Manitowoc by 53.4% in the 3rd quarter. GSA Capital Partners LLP now owns 158,872 shares of the industrial products company’s stock worth $2,391,000 after purchasing an additional 55,310 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Manitowoc in the 3rd quarter worth approximately $798,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Price Performance

NYSE:MTW opened at $13.06 on Monday. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $463.37 million, a P/E ratio of 11.98 and a beta of 2.04. Manitowoc has a 12 month low of $12.20 and a 12 month high of $19.81. The business’s 50-day moving average is $13.45 and its 200 day moving average is $14.56.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $583.90 million. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Manitowoc will post 1.31 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.