Manitowoc Company, Inc. (The) (NYSE:MTW) Earns “Buy” Rating from Jefferies Group LLC

Manitowoc Company, Inc. (The) (NYSE:MTW)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a note issued to investors on Friday, October 6th. They presently have a $10.50 target price on the industrial products company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 15.51% from the company’s previous close. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q3 2017 earnings at ($0.05) EPS.

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Monday, September 11th. TheStreet upgraded Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $6.25 price target on shares of Manitowoc Company, Inc. (The) in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $6.50 price target on shares of Manitowoc Company, Inc. (The) in a report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.01.

Manitowoc Company, Inc. (NYSE:MTW) opened at 9.09 on Friday. The company has a 50 day moving average price of $8.64 and a 200-day moving average price of $6.81. Manitowoc Company, Inc. has a 52 week low of $3.65 and a 52 week high of $9.97. The company’s market capitalization is $1.28 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its quarterly 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 business had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was down 13.8% on a year-over-year basis. On average, equities analysts anticipate that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Manitowoc Company, Inc. (The) by 33.0% in the first quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock worth $40,744,000 after buying an additional 1,771,886 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Manitowoc Company, Inc. (The) during the first quarter valued at approximately $213,000. Ameriprise Financial Inc. increased its stake in shares of Manitowoc Company, Inc. (The) by 8.7% during the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 2,117 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Manitowoc Company, Inc. (The) by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock valued at $4,155,000 after purchasing an additional 45,461 shares in the last quarter. Finally, Invictus RG bought a new position in shares of Manitowoc Company, Inc. (The) during the first quarter valued at approximately $190,000. 80.91% of the stock is 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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