Deutsche Bank AG Reaffirms “Hold” Rating for Manitowoc Company, Inc. (The) (NYSE:MTW)

Manitowoc Company, Inc. (The) (NYSE:MTW)‘s stock had its “hold” rating restated by Deutsche Bank AG in a report released on Monday, October 9th. They currently have a $8.07 price objective on the industrial products company’s stock, up from their previous price objective of $7.85. Deutsche Bank AG’s target price would suggest a potential downside of 10.03% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.50 price objective on shares of Manitowoc Company, Inc. (The) in a research report on Friday, October 6th. Zacks Investment Research raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Monday, September 11th. J P Morgan Chase & Co raised Manitowoc Company, Inc. (The) from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $7.00 in a research report on Thursday, August 17th. BidaskClub raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Finally, UBS AG reaffirmed a “neutral” rating and set a $8.00 price objective (up previously from $6.00) on shares of Manitowoc Company, Inc. (The) in a research report on Thursday, August 10th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.31.

Shares of Manitowoc Company, Inc. (NYSE MTW) traded up 0.45% during mid-day trading on Monday, reaching $8.97. The company’s stock had a trading volume of 633,211 shares. Manitowoc Company, Inc. has a one year low of $3.65 and a one year high of $9.97. The stock’s market cap is $1.26 billion. The stock has a 50 day moving average of $8.68 and a 200-day moving average of $6.85.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The company had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. On average, equities research analysts expect that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Annex Advisory Services LLC grew its stake in shares of Manitowoc Company, Inc. (The) by 22.3% during the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 3,158 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Manitowoc Company, Inc. (The) by 646.0% during the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 16,065 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Manitowoc Company, Inc. (The) by 704.5% in the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after acquiring an additional 20,056 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in Manitowoc Company, Inc. (The) by 9.4% in the second quarter. Leavell Investment Management Inc. now owns 23,405 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Manitowoc Company, Inc. (The) by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Manitowoc Company, Inc. (The) Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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