The Manitowoc Company, Inc. (NYSE:MTW) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned a consensus rating of “Reduce” from the six brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.47.

Several research firms recently issued reports on MTW. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird dropped their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th.

Hedge Funds Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,327 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Manitowoc by 63.0% during the second quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,828 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 2,224 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Manitowoc in the second quarter valued at approximately $26,000. Finally, Hsbc Holdings PLC raised its holdings in Manitowoc by 5.2% during the 2nd quarter. Hsbc Holdings PLC now owns 54,250 shares of the industrial products company’s stock worth $579,000 after purchasing an additional 2,689 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $9.00 on Friday. The firm has a market capitalization of $316.14 million, a PE ratio of -33.33 and a beta of 1.84. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. Manitowoc has a 1-year low of $8.50 and a 1-year high of $17.65. The business’s 50 day moving average is $9.89 and its 200-day moving average is $10.16.

Manitowoc (NYSE:MTW) last posted 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 $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts predict that Manitowoc will post 0.46 earnings per share for the current year.

Manitowoc Company Profile

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.