Manitowoc Company Inc (NYSE:MTW) SVP Thomas G. Musial sold 3,327 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $27.92, for a total value of $92,889.84. Following the completion of the transaction, the senior vice president now directly owns 50,965 shares in the company, valued at approximately $1,422,942.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Manitowoc Company Inc (MTW) opened at $29.97 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.89 and a current ratio of 1.76. Manitowoc Company Inc has a one year low of $21.00 and a one year high of $44.03. The stock has a market cap of $1,059.35, a price-to-earnings ratio of 142.71 and a beta of 1.57.
Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The firm had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. During the same period last year, the firm earned ($0.24) earnings per share. Manitowoc’s revenue for the quarter was up 27.3% compared to the same quarter last year. equities research analysts anticipate that Manitowoc Company Inc will post 0.51 earnings per share for the current year.
Several research analysts have issued reports on the company. Stifel Nicolaus dropped their price target on Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, February 12th. Deutsche Bank dropped their price target on Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a report on Monday, February 12th. JPMorgan Chase & Co. cut Manitowoc from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $30.00 to $29.00 in a report on Monday, February 12th. Zacks Investment Research raised Manitowoc from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Robert W. Baird cut Manitowoc from an “outperform” rating to a “neutral” rating and upped their price target for the company from $27.95 to $33.00 in a report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $38.85.
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Manitowoc Company Profile
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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