Manitowoc Co. (MTW) PT Lowered to $4.84 at Deutsche Bank AG
Manitowoc Co. (NYSE:MTW) had its price target dropped by stock analysts at Deutsche Bank AG from $5.25 to $4.84 in a report released on Wednesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 7.32% from the company’s current price.
A number of other equities analysts have also recently commented on MTW. Barclays PLC reduced their price target on Manitowoc from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Manitowoc in a report on Monday, August 8th. Citigroup Inc. reduced their price target on Manitowoc from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Wednesday, August 10th. Credit Suisse Group AG reiterated a “hold” rating and set a $5.50 price target on shares of Manitowoc in a report on Tuesday, August 9th. Finally, Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.36.
Manitowoc (NYSE:MTW) traded down 0.66% during trading on Wednesday, hitting $4.51. The company had a trading volume of 1,119,052 shares. The stock has a 50-day moving average of $4.64 and a 200-day moving average of $5.18. The stock’s market capitalization is $620.47 million. Manitowoc has a one year low of $2.66 and a one year high of $6.15.
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Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Manitowoc had a positive return on equity of 9.23% and a negative net margin of 5.97%. The business earned $457.70 million during the quarter, compared to analysts’ expectations of $466.92 million. During the same quarter last year, the company posted $0.22 earnings per share. Manitowoc’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Manitowoc will post ($0.09) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. purchased a new position in shares of Manitowoc during the second quarter valued at approximately $387,000. Gray Financial Group GA ADV ADV bought a new stake in Manitowoc during the second quarter worth $134,000. Toth Financial Advisory Corp boosted its stake in Manitowoc by 2.3% in the second quarter. Toth Financial Advisory Corp now owns 195,700 shares of the company’s stock worth $1,067,000 after buying an additional 4,485 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Manitowoc during the first quarter worth $220,000. Finally, Bayesian Capital Management LP bought a new stake in Manitowoc during the first quarter worth $214,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.
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