Shares of Manitowoc Co. (NYSE:MTW) have received an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.81.
A number of analysts have recently commented on MTW shares. Deutsche Bank AG reduced their price target on shares of Manitowoc from $5.25 to $4.84 and set a “hold” rating for the company in a research note on Wednesday, October 12th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Manitowoc in a research note on Monday, August 8th. Credit Suisse Group AG reissued a “hold” rating and issued a $5.50 price objective on shares of Manitowoc in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Manitowoc from a “buy” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Barclays PLC dropped their price objective on shares of Manitowoc from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 12th.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Manitowoc by 293.2% in the first quarter. BlackRock Inc. now owns 23,828 shares of the company’s stock valued at $103,000 after buying an additional 17,768 shares during the period. HBK Investments L P boosted its stake in shares of Manitowoc by 2,733.5% in the first quarter. HBK Investments L P now owns 1,020,046 shares of the company’s stock valued at $4,417,000 after buying an additional 984,046 shares in the last quarter. Sii Investments Inc. WI boosted its stake in shares of Manitowoc by 0.6% in the second quarter. Sii Investments Inc. WI now owns 22,005 shares of the company’s stock valued at $120,000 after buying an additional 125 shares in the last quarter. Investec Asset Management LTD boosted its stake in shares of Manitowoc by 2,181.1% in the first quarter. Investec Asset Management LTD now owns 3,709,667 shares of the company’s stock valued at $16,063,000 after buying an additional 3,547,040 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Manitowoc by 15.4% in the second quarter. Private Advisor Group LLC now owns 26,166 shares of the company’s stock valued at $134,000 after buying an additional 3,500 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
Manitowoc (NYSE:MTW) opened at 4.45 on Wednesday. The company’s market cap is $612.21 million. Manitowoc has a one year low of $4.00 and a one year high of $17.56. The stock has a 50 day moving average of $4.62 and a 200-day moving average of $5.18.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Manitowoc had a negative net margin of 5.97% and a positive return on equity of 9.23%. The firm earned $457.70 million during the quarter, compared to analyst estimates of $466.92 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Manitowoc will post ($0.09) EPS for the current fiscal year.
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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