Robert W. Baird Has Lowered Expectations for Manitowoc (NYSE:MTW) Stock Price

Manitowoc (NYSE:MTW) had its price target reduced by investment analysts at Robert W. Baird from $13.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 34.83% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, Barclays reduced their target price on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.47.

Manitowoc Stock Down 4.7 %

Shares of Manitowoc stock opened at $8.90 on Friday. The firm’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $10.91. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69. Manitowoc has a 1-year low of $8.50 and a 1-year high of $17.65.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.18). Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.41%. The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same period in the prior year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that Manitowoc will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MTW. US Bancorp DE boosted its position in shares of Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,327 shares in the last quarter. CWM LLC lifted its holdings in Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 1,482 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Manitowoc by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 1,516 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Manitowoc by 63.0% in the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,828 shares in the last quarter. Finally, Goldstein Advisors LLC raised its position in shares of Manitowoc by 14.0% during the second quarter. Goldstein Advisors LLC now owns 16,300 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.