A number of other equities analysts have also weighed in on the stock. Deutsche Bank AG began coverage on shares of Manitowoc in a report on Tuesday, September 6th. They issued a hold rating and a $5.25 price objective for the company. Citigroup Inc. decreased their price objective on shares of Manitowoc from $6.00 to $5.50 and set a neutral rating for the company in a report on Wednesday, August 10th. JPMorgan Chase & Co. restated a hold rating on shares of Manitowoc in a report on Monday, August 8th. Credit Suisse Group AG restated a hold rating and issued a $5.50 price objective on shares of Manitowoc in a report on Tuesday, August 9th. Finally, Zacks Investment Research lowered shares of Manitowoc from a buy rating to a sell rating in a report 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 has a consensus rating of Hold and an average target price of $9.36.
Manitowoc (NYSE:MTW) traded down 0.45% during trading on Wednesday, hitting $4.43. The stock had a trading volume of 205,296 shares. The company has a 50-day moving average price of $4.62 and a 200-day moving average price of $5.18. Manitowoc has a 52-week low of $4.00 and a 52-week high of $17.56. The company’s market cap is $609.46 million.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share 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 company 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 earned $0.22 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts forecast that Manitowoc will post ($0.09) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Investec Asset Management LTD increased its position 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. BlackRock Institutional Trust Company N.A. increased its position in shares of Manitowoc by 5.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,518,480 shares of the company’s stock valued at $19,176,000 after buying an additional 183,895 shares in the last quarter. Rutabaga Capital Management LLC MA increased its position in shares of Manitowoc by 75.5% in the second quarter. Rutabaga Capital Management LLC MA now owns 3,159,671 shares of the company’s stock valued at $17,220,000 after buying an additional 1,359,671 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Manitowoc by 151.9% in the second quarter. BlackRock Fund Advisors now owns 3,051,774 shares of the company’s stock valued at $16,632,000 after buying an additional 1,840,495 shares in the last quarter. Finally, State Street Corp increased its position in shares of Manitowoc by 37.9% in the second quarter. State Street Corp now owns 2,351,988 shares of the company’s stock valued at $12,818,000 after buying an additional 646,521 shares in the last quarter. 78.54% of the stock is owned by institutional investors.
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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