The Manitowoc Company, Inc. (NYSE:MTW) Given Consensus Rating of “Reduce” by Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned a consensus recommendation of “Reduce” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.50.

A number of equities analysts recently commented on MTW shares. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price target (up from $9.00) on shares of Manitowoc in a report on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd.

Manitowoc Stock Performance

MTW stock opened at $13.13 on Tuesday. Manitowoc has a 1-year low of $7.06 and a 1-year high of $14.32. The business has a 50-day moving average price of $12.50 and a 200 day moving average price of $11.43. The company has a market capitalization of $465.86 million, a P/E ratio of 8.26 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66.

Manitowoc (NYSE:MTW) last posted its earnings results on Wednesday, November 5th. The industrial products company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The business had revenue of $553.40 million for the quarter, compared to analysts’ expectations of $550.00 million. During the same period last year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Trading of Manitowoc

A number of institutional investors have recently modified their holdings of MTW. AQR Capital Management LLC raised its stake in shares of Manitowoc by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 290,452 shares of the industrial products company’s stock worth $2,495,000 after acquiring an additional 46,324 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Manitowoc by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 273,121 shares of the industrial products company’s stock worth $2,346,000 after purchasing an additional 56,336 shares during the last quarter. Caxton Associates LLP purchased a new position in Manitowoc in the first quarter worth $112,000. Empowered Funds LLC increased its position in shares of Manitowoc by 7.3% during the first quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company’s stock worth $1,633,000 after purchasing an additional 13,001 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Manitowoc by 8.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,145 shares of the industrial products company’s stock worth $569,000 after purchasing an additional 3,354 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

About Manitowoc

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.