Manitowoc (NYSE:MTW) Lifted to Sell at ValuEngine

ValuEngine upgraded shares of Manitowoc (NYSE:MTW) from a strong sell rating to a sell rating in a report published on Tuesday, ValuEngine reports.

MTW has been the subject of several other research reports. Goldman Sachs Group raised Manitowoc from a sell rating to a buy rating and lifted their price target for the stock from $12.00 to $18.00 in a research report on Friday, November 8th. Dougherty & Co began coverage on shares of Manitowoc in a research report on Wednesday, August 28th. They set a neutral rating on the stock. Royal Bank of Canada restated a hold rating and set a $20.00 price objective on shares of Manitowoc in a research note on Tuesday, August 13th. Barclays reaffirmed a buy rating and issued a $15.00 target price on shares of Manitowoc in a report on Wednesday, October 16th. Finally, OTR Global downgraded shares of Manitowoc from a mixed rating to a negative rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $16.83.

MTW stock traded up $0.57 on Tuesday, reaching $16.20. 189,923 shares of the company traded hands, compared to its average volume of 417,786. The firm has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $14.76. The company has a market cap of $549.32 million, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 0.86 and a beta of 2.25. Manitowoc has a one year low of $10.49 and a one year high of $19.77. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.91 and a quick ratio of 0.76.

Manitowoc (NYSE:MTW) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. Manitowoc had a positive return on equity of 10.11% and a negative net margin of 2.17%. The business had revenue of $448.00 million for the quarter, compared to the consensus estimate of $455.27 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Manitowoc will post 1.86 EPS for the current year.

Several institutional investors have recently bought and sold shares of MTW. DekaBank Deutsche Girozentrale raised its stake in shares of Manitowoc by 264.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 6,961 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Manitowoc during the third quarter valued at approximately $395,000. Daiwa Securities Group Inc. raised its holdings in shares of Manitowoc by 56.9% during the third quarter. Daiwa Securities Group Inc. now owns 171,750 shares of the industrial products company’s stock valued at $2,147,000 after purchasing an additional 62,300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Manitowoc by 104.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 5,056 shares during the period. Finally, Royal Bank of Canada lifted its position in Manitowoc by 34.6% during the second quarter. Royal Bank of Canada now owns 16,837 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 4,327 shares during the period. 76.67% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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