MTW has been the topic of a number of other research reports. Barclays PLC lowered their target price on Manitowoc from $5.00 to $4.00 and set an equal weight rating on the stock in a research note on Wednesday, October 12th. Citigroup Inc. lowered their target price on Manitowoc from $6.00 to $5.50 and set a neutral rating on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reiterated a hold rating on shares of Manitowoc in a research note on Monday, August 8th. Credit Suisse Group AG reiterated a hold rating and set a $5.50 target price on shares of Manitowoc in a research note on Tuesday, August 9th. Finally, Zacks Investment Research lowered Manitowoc from a buy rating to a sell rating in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $9.36.
Manitowoc (NYSE:MTW) opened at 4.55 on Wednesday. The firm’s market cap is $625.97 million. The firm has a 50-day moving average price of $4.61 and a 200-day moving average price of $5.19. Manitowoc has a 1-year low of $4.00 and a 1-year high of $17.56.
Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. Manitowoc had a positive return on equity of 9.23% and a negative net margin of 5.97%. The company earned $457.70 million during the quarter, compared to analysts’ expectations of $466.92 million. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. On average, analysts expect that Manitowoc will post ($0.09) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. purchased a new stake in Manitowoc during the second quarter valued at $387,000. Gray Financial Group GA ADV ADV purchased a new stake in Manitowoc during the second quarter valued at $134,000. Toth Financial Advisory Corp increased its stake in Manitowoc by 2.3% in the second quarter. Toth Financial Advisory Corp now owns 195,700 shares of the company’s stock valued at $1,067,000 after buying an additional 4,485 shares during the period. Boothbay Fund Management LLC purchased a new stake in Manitowoc during the first quarter valued at $220,000. Finally, Bayesian Capital Management LP purchased a new stake in Manitowoc during the first quarter valued at $214,000. 78.54% of the stock is currently owned by institutional investors.
Manitowoc Company Profile
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.
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