Manitowoc (NYSE:MTW) had its price target boosted by equities research analysts at Credit Suisse Group from $36.00 to $37.00 in a note issued to investors on Monday. The firm currently has a “neutral” rating on the industrial products company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 6.23% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut shares of Manitowoc from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $30.00 to $29.00 in a report on Monday. Barclays began coverage on shares of Manitowoc in a report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price on the stock. Robert W. Baird restated a “buy” rating and set a $47.00 target price on shares of Manitowoc in a report on Friday, November 24th. Finally, Zacks Investment Research cut shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.64.
Shares of Manitowoc (MTW) opened at $34.83 on Monday. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $44.03. The company has a market cap of $1,208.91, a price-to-earnings ratio of 163.62 and a beta of 1.33. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44.
In other news, Director Charles David Myers purchased 3,854 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.82% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in Manitowoc by 343.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock worth $1,200,000 after purchasing an additional 103,289 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Manitowoc by 2.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock worth $5,224,000 after purchasing an additional 12,221 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Manitowoc by 17.1% in the 2nd quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 22,133 shares in the last quarter. Private Advisor Group LLC boosted its stake in Manitowoc by 46.4% in the 3rd 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 in the last quarter. Finally, Van Den Berg Management I Inc. boosted its stake in Manitowoc by 18.4% in the 3rd quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after purchasing an additional 278,220 shares in the last quarter.
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Manitowoc Company Profile
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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