Manitowoc Co. (NYSE:MTW) had its price objective trimmed by Deutsche Bank AG from $5.25 to $4.84 in a research report report published on Wednesday morning. The firm currently has a hold rating on the stock.
MTW has been the topic of a number of other reports. Citigroup Inc. reduced their price target on shares of Manitowoc from $6.00 to $5.50 and set a neutral rating on the stock in a research report on Wednesday, August 10th. Barclays PLC reduced their price target on shares of Manitowoc from $5.00 to $4.00 and set an equal weight rating on the stock in a research report on Wednesday, October 12th. Zacks Investment Research upgraded shares of Manitowoc from a hold rating to a buy rating and set a $6.25 price objective on the stock in a research note on Tuesday, July 5th. Credit Suisse Group AG reiterated a hold rating and set a $5.50 price objective on shares of Manitowoc in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reiterated a hold rating on shares of Manitowoc in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Manitowoc has a consensus rating of Hold and a consensus price target of $9.36.
Shares of Manitowoc (NYSE:MTW) traded down 0.45% on Wednesday, hitting $4.43. 205,296 shares of the stock traded hands. Manitowoc has a 12-month low of $4.00 and a 12-month high of $17.56. The firm’s market cap is $609.46 million. The firm’s 50-day moving average is $4.62 and its 200 day moving average is $5.18.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $457.70 million for the quarter, compared to analysts’ expectations of $466.92 million. Manitowoc had a negative net margin of 5.97% and a positive return on equity of 9.23%. Manitowoc’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Equities research analysts forecast that Manitowoc will post ($0.09) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. 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 during the period. 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 during the period. AQR Capital Management LLC purchased a new position in shares of Manitowoc during the second quarter valued at about $8,791,000. 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 during the period. Finally, First Trust Advisors LP purchased a new position in shares of Manitowoc during the second quarter valued at about $7,005,000. 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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