Manitowoc (NYSE:MTW) Downgraded by Wall Street Zen to “Buy”

Manitowoc (NYSE:MTW) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Several other brokerages have also issued reports on MTW. Wells Fargo & Company began coverage on shares of Manitowoc in a research report on Thursday, November 13th. They issued an “underweight” rating and a $9.00 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.25.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $12.90 on Friday. The company has a 50 day moving average of $11.12 and a 200 day moving average of $11.13. The company has a current ratio of 2.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $457.53 million, a P/E ratio of 8.11 and a beta of 1.92. Manitowoc has a 12 month low of $7.06 and a 12 month high of $13.61.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $354.30 million during the quarter. Manitowoc had a return on equity of 0.87% and a net margin of 2.63%. As a group, sell-side analysts forecast that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Trading of Manitowoc

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in shares of Manitowoc in the 3rd quarter worth $47,000. Tower Research Capital LLC TRC boosted its position in shares of Manitowoc by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after buying an additional 2,575 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Manitowoc in the 2nd quarter worth about $84,000. CWM LLC increased its holdings in Manitowoc by 669.9% in the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock worth $88,000 after buying an additional 6,377 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in Manitowoc in the 2nd quarter worth about $105,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.