Manitowoc Company Inc (MTW) Given Consensus Rating of “Hold” by Analysts

Shares of Manitowoc Company Inc (NYSE:MTW) have been given an average rating of “Hold” by the seventeen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.09.

Several brokerages recently issued reports on MTW. Zacks Investment Research downgraded shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. Stifel Nicolaus lifted their price target on shares of Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks lifted their price target on shares of Manitowoc to $37.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Barclays assumed coverage on shares of Manitowoc in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 target price for the company. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $47.00 target price on shares of Manitowoc in a research note on Friday, November 24th.

Shares of Manitowoc (NYSE MTW) traded up $0.76 during mid-day trading on Wednesday, reaching $34.71. 484,372 shares of the company traded hands, compared to its average volume of 729,307. Manitowoc has a 12-month low of $21.00 and a 12-month high of $44.03. The company has a market cap of $1,203.28, a P/E ratio of 165.24 and a beta of 1.33. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.59%. The firm had revenue of $481.50 million for the quarter, compared to the consensus estimate of $423.27 million. During the same period in the prior year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. equities research analysts predict that Manitowoc will post 0.54 earnings per share for the current year.

In other news, SVP Thomas G. Musial sold 4,476 shares of Manitowoc stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total transaction of $151,467.84. Following the completion of the sale, the senior vice president now owns 54,319 shares in the company, valued at approximately $1,838,154.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles David Myers purchased 3,854 shares of the stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, with a total value of $150,768.48. The disclosure for this purchase can be found here. 2.82% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Cipher Capital LP acquired a new stake in shares of Manitowoc during the 3rd quarter worth approximately $109,000. Invictus RG acquired a new stake in shares of Manitowoc during the 3rd quarter worth approximately $124,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Manitowoc during the 4th quarter worth approximately $129,000. Advisor Group Inc. grew its position in shares of Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after buying an additional 572 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Manitowoc by 14.2% during the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the period.

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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.

Analyst Recommendations for Manitowoc (NYSE:MTW)

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