Jefferies Group Initiates Coverage on Manitowoc (MTW)
Stock analysts at Jefferies Group began coverage on shares of Manitowoc (NYSE:MTW) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
Shares of Manitowoc (NYSE:MTW) traded up 0.66% on Tuesday, hitting $22.94. The stock had a trading volume of 2,260,395 shares. Manitowoc has a 52-week low of $15.90 and a 52-week high of $23.71. The stock has a 50-day moving average of $21.50 and a 200-day moving average of $20.14. The company has a market cap of $3.065 billion and a P/E ratio of 19.73.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.07. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Manitowoc will post $1.26 earnings per share for the current fiscal year.
MTW has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of Manitowoc from $24.00 to $30.00 in a research note to investors on Tuesday. Separately, analysts at CRT Capital initiated coverage on shares of Manitowoc in a research note to investors on Wednesday, December 18th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at Longbow Research upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 9th. They now have a $27.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.73.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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