Manitowoc Company, Inc. (The) (NYSE:MTW) PT Raised to $48.00 at Stifel Nicolaus

Manitowoc Company, Inc. (The) (NYSE:MTW) had its price objective raised by Stifel Nicolaus from $36.00 to $48.00 in a research note issued to investors on Wednesday, November 8th. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts have also recently commented on MTW. Zacks Investment Research cut shares of Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research report on Wednesday, July 19th. Robert W. Baird upgraded shares of Manitowoc Company, Inc. (The) from a neutral rating to an outperform rating and upped their price objective for the company from $24.00 to $40.00 in a research report on Wednesday, August 2nd. TheStreet upgraded Manitowoc Company, Inc. (The) from a d rating to a c- rating in a report on Monday, August 7th. Finally, Credit Suisse Group increased their target price on Manitowoc Company, Inc. (The) from $24.40 to $32.00 and gave the stock a neutral rating in a report on Wednesday, August 9th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $36.80.

Manitowoc Company, Inc. (NYSE:MTW) traded up $0.68 during trading hours on Wednesday, reaching $41.02. The company’s stock had a trading volume of 368,143 shares, compared to its average volume of 107,977. Manitowoc Company, Inc. has a 12-month low of $38.32 and a 12-month high of $168.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76.

Manitowoc Company, Inc. (The) (NYSE:MTW) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.44. The company had revenue of $399.40 million for the quarter, compared to the consensus estimate of $385.01 million. Manitowoc Company, Inc. (The) had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.12) EPS. analysts expect that Manitowoc Company, Inc. will post -0.04 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in MTW. Neuberger Berman Group LLC increased its stake in Manitowoc Company, Inc. (The) by 5.2% in the third quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock valued at $20,997,000 after acquiring an additional 116,087 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Manitowoc Company, Inc. (The) in the third quarter valued at approximately $308,000. Jane Street Group LLC increased its stake in Manitowoc Company, Inc. (The) by 210.2% in the third quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock valued at $698,000 after acquiring an additional 52,554 shares during the last quarter. Private Advisor Group LLC increased its stake in Manitowoc Company, Inc. (The) by 46.4% in the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 10,050 shares during the last quarter. Finally, Invictus RG bought a new position in Manitowoc Company, Inc. (The) in the third quarter valued at approximately $124,000. 84.09% of the stock is currently owned by institutional investors.

About Manitowoc Company, Inc. (The)

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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