Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Price Target at $12.47

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have earned an average rating of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.47.

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

Manitowoc Trading Up 0.3 %

NYSE:MTW opened at $10.00 on Wednesday. The stock has a fifty day simple moving average of $9.57 and a 200 day simple moving average of $9.99. 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 market capitalization of $351.12 million, a price-to-earnings ratio of -37.02 and a beta of 1.84. Manitowoc has a 1-year low of $8.30 and a 1-year high of $17.65.

Manitowoc (NYSE:MTW) last announced its 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). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The firm had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that Manitowoc will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MTW. Hodges Capital Management Inc. lifted its holdings in shares of Manitowoc by 93.9% during the 4th quarter. Hodges Capital Management Inc. now owns 464,720 shares of the industrial products company’s stock valued at $4,242,000 after buying an additional 225,090 shares during the last quarter. R Squared Ltd acquired a new stake in Manitowoc in the fourth quarter valued at approximately $66,000. SG Americas Securities LLC grew its position in Manitowoc by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 1,944 shares in the last quarter. Strong Tower Advisory Services increased its stake in shares of Manitowoc by 94.4% during the 4th quarter. Strong Tower Advisory Services now owns 39,041 shares of the industrial products company’s stock worth $356,000 after purchasing an additional 18,957 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Manitowoc by 6.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,936 shares of the industrial products company’s stock valued at $1,192,000 after purchasing an additional 7,191 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

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.