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.
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.
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