Manitowoc Company Inc (MTW) Given Average Recommendation of “Hold” by Analysts
Manitowoc Company Inc (NYSE:MTW) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $5.48.
A number of research firms have commented on MTW. Jefferies Group LLC lifted their target price on shares of Manitowoc Company from $7.25 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Deutsche Bank AG lifted their target price on shares of Manitowoc Company from $6.22 to $6.30 and gave the stock a “hold” rating in a research report on Friday. Zacks Investment Research downgraded shares of Manitowoc Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 21st. OTR Global raised shares of Manitowoc Company to a “positive” rating in a research report on Friday, March 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $5.50 target price on shares of Manitowoc Company in a research report on Friday, March 24th.
In other Manitowoc Company news, CEO Barry Pennypacker purchased 78,000 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were acquired at an average price of $6.33 per share, for a total transaction of $493,740.00. Following the purchase, the chief executive officer now directly owns 86,420 shares of the company’s stock, valued at approximately $547,038.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Aaron H. Ravenscroft purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were acquired at an average price of $6.57 per share, for a total transaction of $32,850.00. Following the purchase, the insider now directly owns 28,456 shares in the company, valued at $186,955.92. The disclosure for this purchase can be found here. Insiders have sold a total of 36,400 shares of company stock worth $238,468 in the last quarter. Corporate insiders own 3.36% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MTW. Vanguard Group Inc. boosted its position in Manitowoc Company by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,149,967 shares of the industrial products company’s stock worth $57,854,000 after buying an additional 560,479 shares during the period. Dimensional Fund Advisors LP boosted its position in Manitowoc Company by 33.0% in the first quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock worth $40,744,000 after buying an additional 1,771,886 shares during the period. Harris Associates L P boosted its position in Manitowoc Company by 1.4% in the first quarter. Harris Associates L P now owns 6,597,924 shares of the industrial products company’s stock worth $37,608,000 after buying an additional 88,500 shares during the period. Investec Asset Management LTD boosted its position in Manitowoc Company by 2.7% in the first quarter. Investec Asset Management LTD now owns 5,111,033 shares of the industrial products company’s stock worth $29,133,000 after buying an additional 132,031 shares during the period. Finally, Southpoint Capital Advisors LP boosted its position in Manitowoc Company by 125.0% in the fourth quarter. Southpoint Capital Advisors LP now owns 4,500,000 shares of the industrial products company’s stock worth $26,910,000 after buying an additional 2,500,000 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.
Shares of Manitowoc Company (NYSE:MTW) traded up 2.65% on Monday, reaching $6.19. The company’s stock had a trading volume of 606,893 shares. The stock has a 50 day moving average of $5.80 and a 200-day moving average of $5.82. The firm’s market cap is $869.93 million. Manitowoc Company has a 12 month low of $3.65 and a 12 month high of $7.57.
Manitowoc Company (NYSE:MTW) last posted its earnings results on Monday, May 8th. The industrial products company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). Manitowoc Company had a negative net margin of 23.70% and a negative return on equity of 9.94%. The business had revenue of $305.80 million during the quarter, compared to the consensus estimate of $336.85 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The firm’s revenue was down 28.5% on a year-over-year basis. On average, analysts anticipate that Manitowoc Company will post ($0.28) EPS for the current year.
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About Manitowoc Company
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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