Manitowoc Company, Inc. (The) (NYSE:MTW) had its price objective lifted by investment analysts at Citigroup Inc. from $8.50 to $10.00 in a report issued on Friday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s target price suggests a potential upside of 7.87% from the stock’s previous close.

A number of other research analysts have also recently commented on MTW. ValuEngine upgraded Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. UBS AG reiterated a “neutral” rating and issued a $8.00 price target (up from $6.00) on shares of Manitowoc Company, Inc. (The) in a research note on Thursday, August 10th. TheStreet upgraded Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Zacks Investment Research cut Manitowoc Company, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and increased their price target for the company from $6.00 to $10.00 in a research note on Wednesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.01.

Shares of Manitowoc Company, Inc. (NYSE:MTW) traded down 0.54% during trading on Friday, reaching $9.22. The company’s stock had a trading volume of 228,524 shares. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $9.97. The company’s market cap is $1.30 billion. The firm’s 50-day moving average is $8.48 and its 200 day moving average is $6.70.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The company had revenue of $394.60 million during the quarter, compared to analysts’ expectations of $396.44 million. During the same period in the prior year, the company earned $0.03 EPS. Manitowoc Company, Inc. (The)’s revenue was down 13.8% compared to the same quarter last year. On average, equities research analysts predict that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Manitowoc Company, Inc. (The) by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after purchasing an additional 471,356 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Manitowoc Company, Inc. (The) by 21.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock worth $51,970,000 after purchasing an additional 1,499,384 shares during the last quarter. Southpoint Capital Advisors LP raised its position in Manitowoc Company, Inc. (The) by 29.2% during the 2nd quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after purchasing an additional 1,750,000 shares during the last quarter. Franklin Resources Inc. raised its position in Manitowoc Company, Inc. (The) by 14.2% during the 2nd quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock worth $21,331,000 after purchasing an additional 440,000 shares during the last quarter. Finally, State Street Corp raised its position in Manitowoc Company, Inc. (The) by 6.4% during the 2nd quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after purchasing an additional 150,097 shares during the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.

About Manitowoc Company, Inc. (The)

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.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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