Manitowoc (NYSE:MTW) Downgraded by ValuEngine to Strong Sell

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ValuEngine lowered shares of Manitowoc (NYSE:MTW) from a sell rating to a strong sell rating in a research report report published on Friday, ValuEngine reports.

A number of other research analysts have also weighed in on MTW. OTR Global lowered shares of Manitowoc from a mixed rating to a negative rating in a report on Tuesday, September 10th. Shore Capital reissued a buy rating on shares of Manitowoc in a report on Monday, October 21st. Royal Bank of Canada reissued a hold rating and issued a $20.00 target price on shares of Manitowoc in a report on Tuesday, August 13th. Citigroup lowered shares of Manitowoc from a neutral rating to a sell rating and cut their target price for the company from $16.00 to $10.00 in a report on Tuesday, October 15th. Finally, Zacks Investment Research lowered shares of Manitowoc from a buy rating to a hold rating and set a $17.00 target price for the company. in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $16.50.

Shares of MTW stock traded up $2.29 on Friday, reaching $16.21. The company’s stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. The stock’s fifty day simple moving average is $12.39 and its 200-day simple moving average is $14.99. Manitowoc has a 1 year low of $10.49 and a 1 year high of $20.09. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $501.58 million, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 0.84 and a beta of 2.16.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. Manitowoc had a negative net margin of 2.52% and a positive return on equity of 7.97%. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. During the same period last year, the firm posted $0.20 earnings per share. Manitowoc’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts forecast that Manitowoc will post 1.7 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Firefly Value Partners LP boosted its stake in Manitowoc by 4.4% during the second quarter. Firefly Value Partners LP now owns 3,521,603 shares of the industrial products company’s stock worth $62,685,000 after buying an additional 150,000 shares during the period. Vanguard Group Inc. boosted its stake in Manitowoc by 2.0% during the second quarter. Vanguard Group Inc. now owns 3,342,682 shares of the industrial products company’s stock worth $59,500,000 after buying an additional 65,053 shares during the period. BlackRock Inc. boosted its stake in Manitowoc by 0.7% during the second quarter. BlackRock Inc. now owns 2,479,273 shares of the industrial products company’s stock worth $44,131,000 after buying an additional 18,250 shares during the period. Nuveen Asset Management LLC purchased a new position in Manitowoc during the second quarter worth $30,401,000. Finally, Front Street Capital Management Inc. boosted its stake in Manitowoc by 62.9% during the second quarter. Front Street Capital Management Inc. now owns 1,065,422 shares of the industrial products company’s stock worth $18,967,000 after buying an additional 411,197 shares during the period. 78.87% of the stock is owned by institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Manitowoc (NYSE:MTW)

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