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

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

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

Manitowoc Stock Up 4.1 %

Shares of NYSE MTW opened at $9.13 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $9.92 and a 200 day moving average price of $10.18. Manitowoc has a 52 week low of $8.50 and a 52 week high of $17.65. The stock has a market capitalization of $320.71 million, a price-to-earnings ratio of -33.81 and a beta of 1.83.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The firm had revenue of $524.80 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities research analysts anticipate that Manitowoc will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTW. Front Street Capital Management Inc. increased its stake in shares of Manitowoc by 8.4% during the 2nd quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock valued at $32,361,000 after acquiring an additional 217,389 shares during the last quarter. State Street Corp boosted its holdings in Manitowoc by 8.1% in the third quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock valued at $8,197,000 after acquiring an additional 64,101 shares during the last quarter. Geode Capital Management LLC grew its position in Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock valued at $7,643,000 after acquiring an additional 2,224 shares during the period. Victory Capital Management Inc. increased its stake in Manitowoc by 1.3% during the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock worth $7,447,000 after acquiring an additional 9,758 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock worth $6,810,000 after purchasing an additional 140,042 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.