Manitowoc (NYSE:MTW) PT Lowered to $12.00

Manitowoc (NYSE:MTW) had its price objective lowered by equities researchers at Barclays from $15.00 to $12.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective suggests a potential downside of 7.83% from the stock’s current price.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Wells Fargo & Company reduced their price target on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.83.

Manitowoc Stock Up 1.9 %

Shares of NYSE:MTW opened at $13.02 on Monday. The company has a market capitalization of $462.00 million, a PE ratio of 11.94 and a beta of 2.04. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. Manitowoc has a twelve month low of $12.20 and a twelve month high of $19.81. The firm has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $14.57.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.14). The company had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, equities analysts predict that Manitowoc will post 1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Several institutional investors have recently bought and sold shares of MTW. AJOVista LLC acquired a new position in Manitowoc in the 4th quarter valued at $69,000. Allspring Global Investments Holdings LLC grew its stake in shares of Manitowoc by 19.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 823 shares during the period. Arizona State Retirement System acquired a new position in shares of Manitowoc during the 3rd quarter worth $151,000. Spire Wealth Management acquired a new position in shares of Manitowoc during the 3rd quarter worth $174,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Manitowoc during the 3rd quarter worth $178,000. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

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.