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

The Manitowoc Company, Inc. (NYSE:MTW) has earned a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.86.

Several equities research analysts have commented on MTW shares. Robert W. Baird dropped their price target on Manitowoc from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. UBS Group upped their price target on Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th.

Insiders Place Their Bets

In related news, CEO Aaron H. Ravenscroft bought 3,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $8.68 per share, for a total transaction of $26,040.00. Following the completion of the purchase, the chief executive officer now owns 690,142 shares in the company, valued at $5,990,432.56. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manitowoc

A number of large investors have recently modified their holdings of MTW. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Manitowoc in the fourth quarter valued at about $35,000. Quantbot Technologies LP grew its stake in shares of Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after buying an additional 1,771 shares in the last quarter. LPL Financial LLC grew its stake in shares of Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after buying an additional 1,030 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Manitowoc by 3,309.6% in the first quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock valued at $104,000 after buying an additional 11,782 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Manitowoc in the first quarter valued at about $112,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Stock Performance

NYSE MTW opened at $11.70 on Friday. The business’s 50-day moving average price is $10.14 and its 200 day moving average price is $9.63. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.46. The company has a market capitalization of $414.68 million, a PE ratio of 9.36 and a beta of 2.02. The company has a current ratio of 1.90, a quick ratio of 0.64 and a debt-to-equity ratio of 0.59.

Manitowoc (NYSE:MTW) last released its earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Manitowoc had a return on equity of 0.63% and a net margin of 2.09%. The business had revenue of $470.90 million for the quarter, compared to analysts’ expectations of $479.39 million. During the same quarter last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, research analysts predict that Manitowoc will post 0.5 earnings per share for the current year.

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.