Manitowoc Co. (MTW) PT Lowered to $4.84
Manitowoc Co. (NYSE:MTW) had its target price lowered by analysts at Deutsche Bank AG from $5.25 to $4.84 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 6.61% from the stock’s current price.
Several other research analysts also recently weighed in on MTW. Zacks Investment Research upgraded shares of Manitowoc from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a research note on Tuesday, July 5th. Credit Suisse Group AG restated a “hold” rating and issued a $5.50 target price on shares of Manitowoc in a research note on Tuesday, August 9th. JPMorgan Chase & Co. restated a “hold” rating on shares of Manitowoc in a research note on Monday, August 8th. Citigroup Inc. decreased their target price on shares of Manitowoc from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, August 10th. Finally, Barclays PLC decreased their target price on shares of Manitowoc from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday. One 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’s stock. The company has an average rating of “Hold” and an average target price of $9.36.
Shares of Manitowoc (NYSE:MTW) traded down 0.88% during midday trading on Wednesday, hitting $4.50. 122,640 shares of the stock were exchanged. The company’s market cap is $619.09 million. The stock has a 50 day moving average price of $4.66 and a 200-day moving average price of $5.19. Manitowoc has a 12 month low of $4.00 and a 12 month high of $17.56.
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Manitowoc (NYSE:MTW) last announced its earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business earned $457.70 million during the quarter, compared to the consensus estimate of $466.92 million. Manitowoc had a negative net margin of 5.97% and a positive return on equity of 9.23%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, analysts predict that Manitowoc will post ($0.09) EPS for the current year.
A number of institutional investors have recently made changes to their positions in MTW. Robeco Institutional Asset Management B.V. bought a new position in shares of Manitowoc during the second quarter worth about $387,000. Gray Financial Group GA ADV ADV bought a new position in shares of Manitowoc during the second quarter worth about $134,000. Toth Financial Advisory Corp raised its position in shares of 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 in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Manitowoc during the first quarter worth about $220,000. Finally, Bayesian Capital Management LP bought a new position in shares of Manitowoc during the first quarter worth about $214,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Manitowoc Company Profile
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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