Barclays Increases Manitowoc Price Target to $32.00 (MTW)
Equities researchers at Barclays boosted their price objective on shares of Manitowoc (NYSE:MTW) from $28.00 to $32.00 in a research report issued on Monday, AnalystRatingsNetwork reports. The firm currently has an “overweight” rating on the stock. Barclays’ price target points to a potential upside of 12.48% from the stock’s previous close.
In other Manitowoc news, VP Dean Nolden sold 6,000 shares of Manitowoc stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $26.50, for a total transaction of $159,000.00. Following the completion of the sale, the vice president now directly owns 20,230 shares of the company’s stock, valued at approximately $536,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their EPS on shares of Manitowoc in a research note to investors on Monday. They now have a “neutral” rating and a $30.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Manitowoc from $29.00 to $33.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Longbow Research downgraded shares of Manitowoc from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $29.00 price target on the stock. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Manitowoc has a consensus rating of “Buy” and an average target price of $28.23.
Shares of Manitowoc (NYSE:MTW) traded down 4.99% during mid-day trading on Monday, hitting $27.03. 5,000,770 shares of the company’s stock traded hands. Manitowoc has a 1-year low of $16.18 and a 1-year high of $29.39. The stock’s 50-day moving average is $23.91 and its 200-day moving average is $20.90. The company has a market cap of $3.600 billion and a price-to-earnings ratio of 29.00.
Manitowoc (NYSE:MTW) last released its earnings data on Friday, January 31st. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.13. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. Analysts expect that Manitowoc will post $1.55 EPS for the current fiscal year.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.