Insider Selling: Manitowoc VP Unloads 20,152 Shares of Stock (MTW)
Manitowoc (NYSE:MTW) VP Eric Etchart sold 20,152 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.50, for a total transaction of $594,484.00. Following the completion of the sale, the vice president now directly owns 105,306 shares of the company’s stock, valued at approximately $3,106,527. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MTW shares. Analysts at Zacks downgraded shares of Manitowoc from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $30.00 price target on the stock. Separately, 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. Finally, 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $29.08.
Manitowoc (NYSE:MTW) traded up 2.15% during mid-day trading on Monday, hitting $30.00. 1,541,672 shares of the company’s stock traded hands. Manitowoc has a 52 week low of $16.18 and a 52 week high of $33.46. The stock’s 50-day moving average is $28.89 and its 200-day moving average is $27.09. The company has a market cap of $4.055 billion and a price-to-earnings ratio of 32.42.
Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, May 1st. The company reported $0.17 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.09 earnings per share. Manitowoc’s revenue was down 5.0% compared to the same quarter last year. 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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