Manitowoc (NYSE:MTW) PT Lowered to $12.00 at Barclays

Manitowoc (NYSE:MTW) had its price target decreased by Barclays from $15.00 to $12.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an underweight rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Manitowoc from a buy rating to a hold rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. dropped their target price on shares of Manitowoc from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company dropped their target price on shares of Manitowoc from $17.00 to $16.00 and set an equal weight rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, Manitowoc currently has an average rating of Hold and an average target price of $16.83.

Manitowoc Trading Up 0.3 %

NYSE:MTW opened at $13.06 on Monday. Manitowoc has a 12 month low of $12.20 and a 12 month high of $19.81. The firm has a market cap of $463.37 million, a price-to-earnings ratio of 11.98 and a beta of 2.04. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $13.45 and its 200-day moving average is $14.56.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The firm had revenue of $595.80 million during the quarter, compared to the consensus estimate of $583.90 million. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts anticipate that Manitowoc will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Institutional investors have recently bought and sold shares of the business. AJOVista LLC acquired a new stake in Manitowoc during the fourth quarter worth $69,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Manitowoc by 19.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 823 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Manitowoc in the 3rd quarter valued at $151,000. Spire Wealth Management acquired a new stake in shares of Manitowoc in the 3rd quarter valued at $174,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Manitowoc in the 3rd quarter valued at $178,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.