Manitowoc (NYSE:MTW) Stock Price Passes Above 200 Day Moving Average of $14.78

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Manitowoc Company Inc (NYSE:MTW) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.78 and traded as high as $16.68. Manitowoc shares last traded at $16.66, with a volume of 19,873 shares traded.

Several research analysts have commented on MTW shares. Zacks Investment Research raised shares of Manitowoc from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, November 12th. Citigroup lowered shares of Manitowoc from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $10.00 in a research note on Tuesday, October 15th. Dougherty & Co started coverage on shares of Manitowoc in a research note on Wednesday, August 28th. They set a “neutral” rating for the company. ValuEngine lowered shares of Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, Goldman Sachs Group raised shares of Manitowoc from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $18.00 in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Manitowoc presently has a consensus rating of “Hold” and an average price target of $16.83.

The company has a quick ratio of 0.76, a current ratio of 1.91 and a debt-to-equity ratio of 0.55. The firm’s 50 day simple moving average is $15.11 and its 200 day simple moving average is $14.80. The company has a market capitalization of $589.27 million, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.90 and a beta of 2.25.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The company had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. Manitowoc had a negative net margin of 2.17% and a positive return on equity of 10.11%. Manitowoc’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. As a group, sell-side analysts predict that Manitowoc Company Inc will post 1.86 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Manitowoc during the third quarter valued at $29,000. Tower Research Capital LLC TRC boosted its stake in shares of Manitowoc by 513.2% during the third quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 4,193 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Manitowoc by 20.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Manitowoc by 264.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 6,961 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Manitowoc by 104.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 5,056 shares during the period. 76.67% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company Profile (NYSE:MTW)

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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