UBS Group Issues Positive Forecast for Manitowoc (NYSE:MTW) Stock Price

Manitowoc (NYSE:MTW) had its target price boosted by UBS Group from $9.00 to $11.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Separately, Robert W. Baird reduced their price target on shares of Manitowoc from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.86.

Manitowoc Stock Up 2.1%

MTW stock opened at $11.77 on Friday. The firm has a market cap of $416.99 million, a PE ratio of 7.59 and a beta of 1.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The firm’s 50 day moving average price is $8.76 and its 200-day moving average price is $9.49. Manitowoc has a one year low of $7.06 and a one year high of $13.46.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). The firm had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $479.39 million. Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities research analysts anticipate that Manitowoc will post 0.5 EPS for the current year.

Insider Buying and Selling at Manitowoc

In other news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $8.68 per share, with a total value of $26,040.00. Following the completion of the transaction, the chief executive officer now directly owns 690,142 shares in the company, valued at $5,990,432.56. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.52% of the stock is owned by corporate insiders.

Institutional Trading of Manitowoc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Manitowoc during the fourth quarter worth $35,000. R Squared Ltd purchased a new stake in shares of Manitowoc during the fourth quarter worth $66,000. Quantbot Technologies LP increased its position in shares of Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 1,771 shares during the period. LPL Financial LLC increased its position in shares of Manitowoc by 10.0% during the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 1,030 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Manitowoc by 3,309.6% during the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 11,782 shares during the period. Hedge funds and other institutional investors 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.