Manitowoc Company (MTW) – Analysts’ Weekly Ratings Changes
Manitowoc Company (NYSE: MTW) received a number of ratings updates from brokerages and research firms in the last week:
- Manitowoc Company had its price target lowered by analysts at Barclays from $36.00 to $32.00. They now have an “overweight” rating on the stock.
- Manitowoc Company had its price target lowered by analysts at RBC Capital from $34.00 to $33.00.
- Manitowoc Company had its price target lowered by analysts at Robert W. Baird from $38.00 to $34.00.
- Manitowoc Company had its price target lowered by analysts at Jefferies Group from $33.00 to $28.00. They now have a “hold” rating on the stock.
- Manitowoc Company had its price target lowered by analysts at Global Hunter Securities from $30.00 to $26.00.
- Manitowoc Company had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $28.00 price target on the stock. Zacks‘ analyst wrote, “Manitowoc reported second-quarter 2014 adjusted earnings of $0.35 per share, a 25.5% decline year over year, primarily impacted by lower crane demand. The bottom line also missed the Zacks Consensus Estimate of $0.41. For 2014, Manitowoc cut its guidance for Crane segment revenue at flat to slightly down and Foodservice operating margins to a mid-teens growth, however reiterating other outlook. Manitowoc remains optimistic regarding its new products. In addition, implementation of strategic initiatives and organizational realignment will improve cost structure. On the flip side, rising competition from a number of crane manufacturers in the Chinese market continue to pose as headwind. Thus, we are reaffirming our Neutral recommendation on Manitowoc with a target price of $28.”
Shares of Manitowoc Company, Inc. (NYSE:MTW) traded down 0.07% on Monday, hitting $27.02. 2,108,825 shares of the company’s stock traded hands. Manitowoc Company, Inc. has a 52-week low of $18.12 and a 52-week 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 $3.647 billion and a P/E ratio of 33.10. Manitowoc Company also saw some unusual options trading on Friday. Stock traders bought 33,287 call options on the stock. This is an increase of 702% compared to the average daily volume of 4,150 call options.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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