Manitowoc (NYSE:MTW) Price Target Raised to $20.00

Manitowoc (NYSE:MTW) had its price target boosted by Barclays from $16.00 to $20.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential downside of 10.85% from the stock’s previous close.

Several other equities research analysts also recently weighed in on MTW. Wells Fargo & Company lifted their price target on shares of Manitowoc from $12.00 to $15.00 and gave the company an “underweight” rating in a research note on Thursday. Wall Street Zen lowered shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 25th. Finally, Weiss Ratings raised shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $17.50.

Manitowoc Trading Up 3.5%

Shares of NYSE:MTW traded up $0.77 during mid-day trading on Friday, hitting $22.43. The company had a trading volume of 111,365 shares, compared to its average volume of 313,444. The firm has a fifty day moving average price of $21.82 and a 200 day moving average price of $15.74. The company has a market capitalization of $809.05 million, a PE ratio of 31.65 and a beta of 1.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. Manitowoc has a one year low of $10.29 and a one year high of $25.22.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, November 3rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. The company had revenue of $613.80 million for the quarter, compared to the consensus estimate of $577.00 million. Manitowoc had a net margin of 1.10% and a return on equity of 4.78%. Manitowoc’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, research analysts forecast that Manitowoc will post 1.08 EPS for the current year.

Institutional Trading of Manitowoc

Several institutional investors have recently made changes to their positions in MTW. Squarepoint Ops LLC grew its holdings in shares of Manitowoc by 4.1% in the second quarter. Squarepoint Ops LLC now owns 27,603 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 1,088 shares in the last quarter. Signaturefd LLC increased its position in shares of Manitowoc by 583.2% during the third quarter. Signaturefd LLC now owns 1,544 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,318 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Manitowoc by 5.2% during the first quarter. Public Employees Retirement System of Ohio now owns 32,187 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 1,594 shares during the period. Sei Investments Co. lifted its holdings in Manitowoc by 5.1% during the first quarter. Sei Investments Co. now owns 56,581 shares of the industrial products company’s stock worth $659,000 after acquiring an additional 2,733 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Manitowoc by 10.2% during the first quarter. Quantinno Capital Management LP now owns 54,639 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 5,058 shares during the period. Institutional investors own 78.66% of the company’s stock.

About Manitowoc

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.