Stock analysts at Barclays initiated coverage on shares of Manitowoc (NYSE:MTW) in a note issued to investors on Tuesday. The brokerage set an “overweight” rating and a $45.00 price target on the industrial products company’s stock. Barclays’ price target suggests a potential upside of 14.50% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Manitowoc from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, September 11th. Citigroup raised their price objective on shares of Manitowoc from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Deutsche Bank restated a “hold” rating and issued a $32.28 price objective (up previously from $31.40) on shares of Manitowoc in a research report on Monday, October 9th. Finally, Royal Bank of Canada upgraded shares of Manitowoc from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $48.00 in a research report on Wednesday, November 1st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.89.

Manitowoc (NYSE MTW) traded down $0.40 during midday trading on Tuesday, reaching $39.30. The company’s stock had a trading volume of 219,800 shares, compared to its average volume of 421,080. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $42.12.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.44. The business had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.12) EPS. research analysts forecast that Manitowoc will post -0.19 EPS for the current fiscal year.

In related news, Director Charles David Myers purchased 3,854 shares of Manitowoc stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.82% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of MTW. Schwab Charles Investment Management Inc. lifted its position in shares of Manitowoc by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,382 shares of the industrial products company’s stock worth $3,024,000 after purchasing an additional 29,652 shares in the last quarter. Bank of America Corp DE increased its position in Manitowoc by 1.6% in the first quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock worth $518,000 after buying an additional 1,391 shares in the last quarter. Credit Suisse AG grew its position in shares of Manitowoc by 2.4% during the first quarter. Credit Suisse AG now owns 187,534 shares of the industrial products company’s stock worth $1,069,000 after purchasing an additional 4,463 shares in the last quarter. Aperio Group LLC grew its position in shares of Manitowoc by 33.6% during the second quarter. Aperio Group LLC now owns 37,840 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 9,518 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Manitowoc by 44.6% during the second quarter. Russell Investments Group Ltd. now owns 697,265 shares of the industrial products company’s stock worth $4,185,000 after purchasing an additional 215,156 shares in the last quarter.

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About Manitowoc

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 (NYSE:MTW)

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