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

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus rating of “Reduce” from the six analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.47.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Robert W. Baird decreased their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

Manitowoc Stock Performance

NYSE:MTW opened at $9.71 on Wednesday. The firm has a market capitalization of $340.97 million, a PE ratio of -35.95 and a beta of 1.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The business’s fifty day moving average price is $9.55 and its 200 day moving average price is $9.97. Manitowoc has a 12 month low of $8.30 and a 12 month high of $17.65.

Manitowoc (NYSE:MTW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business had revenue of $524.80 million for the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. Manitowoc’s revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, sell-side analysts anticipate that Manitowoc will post 0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted 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 acquiring an additional 1,327 shares in the last quarter. nVerses Capital LLC purchased a new position in Manitowoc in the third quarter valued at about $51,000. Point72 Asset Management L.P. increased its stake in Manitowoc by 63.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,828 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in Manitowoc during the second quarter worth $66,000. Finally, R Squared Ltd purchased a new stake in Manitowoc during the fourth quarter worth $66,000. 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.