Manitowoc Company Inc (NYSE:MTW) Receives Average Rating of “Hold” from Analysts

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Shares of Manitowoc Company Inc (NYSE:MTW) have earned a consensus rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $16.83.

A number of equities research analysts have recently commented on the stock. Robert W. Baird cut shares of Manitowoc from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a research report on Monday, August 12th. Citigroup lowered shares of Manitowoc from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $16.00 to $10.00 in a research report on Tuesday, October 15th. Goldman Sachs Group raised shares of Manitowoc from a “sell” rating to a “buy” rating and upped their price objective for the company from $12.00 to $18.00 in a research note on Friday, November 8th. OTR Global downgraded shares of Manitowoc from a “mixed” rating to a “negative” rating in a report on Tuesday, September 10th. Finally, Barclays reissued a “buy” rating and issued a $15.00 target price on shares of Manitowoc in a research note on Wednesday, October 16th.

Shares of MTW opened at $15.57 on Wednesday. The stock has a 50 day moving average price of $14.31 and a 200 day moving average price of $14.77. Manitowoc has a one year low of $10.49 and a one year high of $19.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.76 and a current ratio of 1.91. The stock has a market capitalization of $547.22 million, a price-to-earnings ratio of 24.33, a PEG ratio of 0.86 and a beta of 2.25.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data 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 positive return on equity of 10.11% and a negative net margin of 2.17%. The company had revenue of $448.00 million for the quarter, compared to analyst estimates of $455.27 million. During the same quarter last year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Manitowoc will post 1.86 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of MTW. DekaBank Deutsche Girozentrale raised its holdings in shares of Manitowoc by 264.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 6,961 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Manitowoc during the third quarter worth about $395,000. Daiwa Securities Group Inc. increased its position in Manitowoc by 56.9% during the third quarter. Daiwa Securities Group Inc. now owns 171,750 shares of the industrial products company’s stock worth $2,147,000 after purchasing an additional 62,300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Manitowoc by 104.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 5,056 shares during the period. Finally, Royal Bank of Canada raised its stake in Manitowoc by 34.6% during the second quarter. Royal Bank of Canada now owns 16,837 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 4,327 shares during the period. 76.67% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

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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Analyst Recommendations for Manitowoc (NYSE:MTW)

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