Barclays reiterated their buy rating on shares of Manitowoc (NYSE:MTW) in a research report sent to investors on Wednesday, AnalystRatings.com reports. The firm currently has a $15.00 price target on the industrial products company’s stock.
A number of other research firms have also issued reports on MTW. OTR Global lowered shares of Manitowoc from a mixed rating to a negative rating in a report on Tuesday, September 10th. Dougherty & Co began coverage on shares of Manitowoc in a report on Wednesday, August 28th. They issued a neutral rating on the stock. Royal Bank of Canada restated a hold rating and issued a $20.00 target price on shares of Manitowoc in a report on Tuesday, August 13th. Citigroup lowered shares of Manitowoc from a neutral rating to a sell rating and reduced their target price for the company from $16.00 to $10.00 in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Manitowoc from a buy rating to a hold rating and set a $17.00 target price on the stock. in a report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $16.20.
NYSE:MTW traded up $0.31 on Wednesday, reaching $11.62. The stock had a trading volume of 7,036 shares, compared to its average volume of 329,210. The company has a market cap of $410.06 million, a price-to-earnings ratio of 18.11, a P/E/G ratio of 0.67 and a beta of 2.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 0.70. The firm’s fifty day moving average is $12.35 and its two-hundred day moving average is $15.48. Manitowoc has a 12-month low of $10.49 and a 12-month high of $22.00.
Manitowoc (NYSE:MTW) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.42. The company had revenue of $504.70 million for the quarter, compared to analyst estimates of $509.51 million. Manitowoc had a negative net margin of 2.52% and a positive return on equity of 7.97%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, research analysts forecast that Manitowoc will post 1.7 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in MTW. Nuveen Asset Management LLC purchased a new position in shares of Manitowoc during the 2nd quarter worth about $30,401,000. Invesco Ltd. lifted its holdings in shares of Manitowoc by 591.2% during the 2nd quarter. Invesco Ltd. now owns 595,125 shares of the industrial products company’s stock worth $10,594,000 after acquiring an additional 509,025 shares during the period. Front Street Capital Management Inc. lifted its holdings in shares of Manitowoc by 62.9% during the 2nd quarter. Front Street Capital Management Inc. now owns 1,065,422 shares of the industrial products company’s stock worth $18,967,000 after acquiring an additional 411,197 shares during the period. Marshall Wace LLP lifted its holdings in shares of Manitowoc by 185.9% during the 1st quarter. Marshall Wace LLP now owns 366,973 shares of the industrial products company’s stock worth $6,022,000 after acquiring an additional 238,618 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Manitowoc by 205.6% during the 2nd quarter. Bank of America Corp DE now owns 276,574 shares of the industrial products company’s stock worth $4,923,000 after acquiring an additional 186,070 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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