Manitowoc Co. (NYSE:MTW) had its price target trimmed by Barclays PLC from $5.00 to $4.00 in a research note issued to investors on Wednesday. The firm currently has an equal weight rating on the stock.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Manitowoc from a buy rating to a sell rating in a research note on Tuesday, July 19th. Deutsche Bank AG initiated coverage on Manitowoc in a report on Tuesday, September 6th. They set a hold rating and a $5.25 price objective for the company. Credit Suisse Group AG reaffirmed a hold rating and set a $5.50 price objective on shares of Manitowoc in a report on Tuesday, August 9th. Citigroup Inc. reduced their price objective on Manitowoc from $6.00 to $5.50 and set a neutral rating for the company in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reaffirmed a hold rating on shares of Manitowoc in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Manitowoc currently has a consensus rating of Hold and an average price target of $9.36.
Shares of Manitowoc (NYSE:MTW) traded down 1.77% during mid-day trading on Wednesday, reaching $4.43. The company’s stock had a trading volume of 265,902 shares. The company’s 50-day moving average is $4.64 and its 200 day moving average is $5.18. Manitowoc has a 1-year low of $2.66 and a 1-year high of $6.15. The firm’s market capitalization is $609.46 million.
Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share 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 firm had revenue of $457.70 million for the quarter, compared to the consensus estimate of $466.92 million. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts expect that Manitowoc will post ($0.09) earnings per share for the current year.
A number of large investors have recently bought and sold shares of MTW. Robeco Institutional Asset Management B.V. purchased a new stake in Manitowoc during the second quarter worth about $387,000. Gray Financial Group GA ADV ADV purchased a new stake in Manitowoc during the second quarter worth about $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 worth $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 worth about $220,000. Finally, Bayesian Capital Management LP purchased a new stake in Manitowoc during the first quarter worth about $214,000. 78.54% of the stock is owned by hedge funds and other 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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