Manitowoc Sets New 1-Year High at $33.50 (MTW)
Shares of Manitowoc (NYSE:MTW) reached a new 52-week high on Thursday , Analyst Ratings Net reports. The stock traded as high as $33.50 and last traded at $33.21, with a volume of 809,915 shares. The stock had previously closed at $33.13.
A number of research firms have recently commented on MTW. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Manitowoc in a research note on Monday. They now have a $39.00 price target on the stock, up previously from $34.00. Separately, analysts at BMO Capital Markets downgraded shares of Manitowoc from an “outperform” rating to a “market perform” rating in a research note on Friday, June 27th. They now have a $34.00 price target on the stock. Finally, analysts at Jefferies Group upgraded shares of Manitowoc from an “underperform” rating to a “hold” rating in a research note on Friday, June 27th. They now have a $33.00 price target on the stock, up previously from $24.00. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Manitowoc currently has a consensus rating of “Hold” and an average target price of $30.40.
The stock’s 50-day moving average is $28.80 and its 200-day moving average is $28.39. The company has a market cap of $4.489 billion and a P/E ratio of 36.57.
Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts expect that Manitowoc will post $1.64 EPS for the current fiscal year.
In other Manitowoc news, VP Eric Etchart unloaded 31,148 shares of Manitowoc stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $32.31, for a total transaction of $1,006,391.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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