Manitowoc Company Price Target Cut to $34.00 by Analysts at Robert W. Baird (MTW)
Research analysts at Robert W. Baird lowered their price objective on shares of Manitowoc Company (NYSE:MTW) from $38.00 to $34.00 in a report released on Friday. Robert W. Baird’s price target suggests a potential upside of 25.74% from the stock’s previous close.
Shares of Manitowoc Company (NYSE:MTW) traded up 1.81% on Friday, hitting $27.04. The stock had a trading volume of 4,438,855 shares. Manitowoc Company has a one year low of $18.12 and a one year high of $33.50. The stock’s 50-day moving average is $30.77 and its 200-day moving average is $29.54. The company has a market cap of $3.650 billion and a P/E ratio of 31.85.
Manitowoc Company (NYSE:MTW) last released its earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.07. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts predict that Manitowoc Company will post $1.63 earnings per share for the current fiscal year.
MTW has been the subject of a number of other recent research reports. Analysts at Barclays cut their price target on shares of Manitowoc Company from $36.00 to $32.00 in a research note on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Manitowoc Company from $33.00 to $28.00 in a research note on Friday. They now have a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.53.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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