UBS Group Cuts Manitowoc (NYSE:MTW) Price Target to $9.00

Manitowoc (NYSE:MTW) had its price objective decreased by UBS Group from $13.00 to $9.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the industrial products company’s stock.

Manitowoc Stock Performance

Manitowoc stock opened at $7.41 on Monday. The firm has a market capitalization of $260.17 million, a P/E ratio of 4.78 and a beta of 1.79. The stock has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $9.73. Manitowoc has a 52-week low of $7.18 and a 52-week high of $13.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. As a group, analysts anticipate that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Manitowoc during the fourth quarter worth $35,000. R Squared Ltd acquired a new position in Manitowoc during the 4th quarter worth about $66,000. Quantbot Technologies LP grew its holdings in Manitowoc by 20.9% during the 4th 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 last quarter. LPL Financial LLC increased its position in Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 worth $104,000 after acquiring an additional 11,782 shares during 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.