Manitowoc (NYSE:MTW) Rating Increased to Strong-Buy at Wall Street Zen

Manitowoc (NYSE:MTW) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 15th. Wells Fargo & Company started coverage on shares of Manitowoc in a research report on Thursday, November 13th. They issued an “underweight” rating and a $9.00 price target on the stock. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $10.25.

Manitowoc Stock Down 0.3%

NYSE:MTW opened at $13.03 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 2.14. The company has a market capitalization of $462.17 million, a price-to-earnings ratio of 8.19 and a beta of 1.92. Manitowoc has a one year low of $7.06 and a one year high of $13.61. The stock has a 50-day simple moving average of $11.36 and a 200 day simple moving average of $11.22.

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

Institutional Investors Weigh In On Manitowoc

A number of hedge funds have recently added to or reduced their stakes in MTW. Tudor Investment Corp ET AL boosted its holdings in shares of Manitowoc by 67.2% during the third quarter. Tudor Investment Corp ET AL now owns 203,758 shares of the industrial products company’s stock valued at $2,040,000 after acquiring an additional 81,864 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Manitowoc by 1.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock worth $3,982,000 after acquiring an additional 4,743 shares during the period. Numerai GP LLC bought a new stake in Manitowoc in the 3rd quarter valued at about $182,000. Brevan Howard Capital Management LP acquired a new position in Manitowoc during the 3rd quarter valued at about $441,000. Finally, CSM Advisors LLC boosted its stake in Manitowoc by 69.5% during the 3rd quarter. CSM Advisors LLC now owns 143,065 shares of the industrial products company’s stock valued at $1,433,000 after purchasing an additional 58,660 shares during the period. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.