Manitowoc Company Inc (MTW) Given Average Rating of “Buy” by Analysts

Shares of Manitowoc Company Inc (NYSE:MTW) have received an average recommendation of “Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.75.

A number of brokerages recently issued reports on MTW. Stifel Nicolaus raised their price target on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Deutsche Bank restated a “hold” rating and issued a $32.28 price target (up from $31.40) on shares of Manitowoc in a research report on Monday, October 9th. Barclays began coverage on Manitowoc in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target for the company. Robert W. Baird restated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. Finally, Citigroup raised their price target on Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of Manitowoc stock in a transaction on Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.82% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new stake in Manitowoc in the fourth quarter worth $799,000. Neuberger Berman Group LLC increased its stake in Manitowoc by 5.2% in the third quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after purchasing an additional 116,087 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Manitowoc in the third quarter worth $308,000. Jane Street Group LLC increased its stake in Manitowoc by 210.2% in the third quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 52,554 shares during the period. Finally, Private Advisor Group LLC increased its stake in Manitowoc by 46.4% in the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 10,050 shares during the period.

Manitowoc (NYSE:MTW) traded up $1.64 during midday trading on Friday, hitting $39.90. The stock had a trading volume of 1,056,806 shares, compared to its average volume of 457,273. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The company has a market cap of $1,400.00, a P/E ratio of -29.12 and a beta of 1.56. Manitowoc has a 52-week low of $21.00 and a 52-week high of $42.12.

Manitowoc (NYSE:MTW) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.44. The firm had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.12) EPS. equities analysts expect that Manitowoc will post -0.18 EPS for the current fiscal year.

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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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