Manitowoc Company, Inc. (The) (NYSE:MTW) had its price objective lifted by Stifel Nicolaus from $36.00 to $48.00 in a research report released on Wednesday, November 8th. The firm currently has a buy rating on the industrial products company’s stock.
Several other analysts also recently commented on the company. Jefferies Group LLC reiterated a buy rating and set a $42.00 target price on shares of Manitowoc in a research note on Friday, October 6th. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $28.00 target price on shares of Manitowoc in a report on Friday, October 27th. Zacks Investment Research lowered Manitowoc from a buy rating to a hold rating in a research note on Wednesday, October 11th. Robert W. Baird upgraded Manitowoc from a neutral rating to an outperform rating and lifted their price target for the stock from $24.00 to $40.00 in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada raised shares of Manitowoc from a sector perform rating to an outperform rating and raised their price objective for the stock from $30.00 to $48.00 in a research note on Wednesday, November 1st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $37.34.
Shares of Manitowoc (MTW) traded down $0.30 during midday trading on Wednesday, hitting $39.09. The stock had a trading volume of 458,499 shares, compared to its average volume of 418,843. Manitowoc has a one year low of $21.00 and a one year high of $42.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67.
Institutional investors and hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC grew its position in shares of Manitowoc by 5.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock valued at $20,997,000 after buying an additional 116,087 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Manitowoc during the 3rd quarter worth $308,000. Jane Street Group LLC grew its position in Manitowoc by 210.2% during the 3rd quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 52,554 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Manitowoc 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 in the last quarter. Finally, Invictus RG purchased a new stake in shares of Manitowoc in the third quarter valued at about $124,000. Institutional investors and hedge funds own 84.09% of the company’s stock.
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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.
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