Manitowoc VP Sells $574,304 in Stock (MTW)
Manitowoc (NYSE:MTW) VP Eric Etchart sold 20,151 shares of the company’s stock on the open market in a transaction dated Thursday, June 5th. The stock was sold at an average price of $28.50, for a total value of $574,303.50. Following the transaction, the vice president now directly owns 112,443 shares in the company, valued at approximately $3,204,626. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Manitowoc in a research note on Tuesday, May 20th. They now have a $36.00 price target on the stock. Analysts at Jefferies Group downgraded shares of Manitowoc from a “hold” rating to an “underperform” rating in a research note on Monday, March 24th. They now have a $24.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.62.
Shares of Manitowoc (NYSE:MTW) traded up 2.23% during mid-day trading on Friday, hitting $29.38. The stock had a trading volume of 2,034,683 shares. Manitowoc has a 1-year low of $16.18 and a 1-year high of $33.46. The stock’s 50-day moving average is $28.88 and its 200-day moving average is $27.07. The company has a market cap of $3.971 billion and a price-to-earnings ratio of 31.72.
Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. The company had revenue of $850.00 million for the quarter, compared to the consensus estimate of $913.66 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, analysts predict that Manitowoc will post $1.64 earnings per share for the current fiscal year.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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