Shares of Manitowoc Company Inc (NYSE:MTW) have received a consensus recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.67.
A number of analysts recently weighed in on the stock. Goldman Sachs Group raised shares of Manitowoc from a “sell” rating to a “buy” rating and upped their target price for the stock from $12.00 to $18.00 in a report on Friday, November 8th. Royal Bank of Canada reaffirmed a “hold” rating and set a $20.00 target price on shares of Manitowoc in a report on Monday, January 20th. Citigroup raised shares of Manitowoc from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $14.00 in a report on Friday. William Blair reaffirmed a “market perform” rating on shares of Manitowoc in a report on Thursday, November 7th. Finally, Zacks Investment Research lowered shares of Manitowoc from a “hold” rating to a “strong sell” rating and set a $14.00 target price on the stock. in a report on Wednesday, February 12th.
A number of hedge funds have recently added to or reduced their stakes in MTW. Golden State Wealth Management LLC purchased a new position in Manitowoc in the 3rd quarter worth approximately $29,000. Great West Life Assurance Co. Can purchased a new position in Manitowoc in the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC grew its stake in Manitowoc by 513.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock worth $63,000 after buying an additional 4,193 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Manitowoc by 38.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,495 shares of the industrial products company’s stock worth $114,000 after buying an additional 1,800 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Manitowoc by 21.7% in the 4th quarter. Advisor Group Inc. now owns 6,658 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,186 shares in the last quarter. 76.70% of the stock is owned by institutional investors and hedge funds.
Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. The firm had revenue of $463.40 million for the quarter, compared to the consensus estimate of $493.31 million. The business’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Research analysts expect that Manitowoc will post 0.67 EPS for the current year.
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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