Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Target Price at $12.47

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned an average recommendation of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.47.

Several equities research analysts recently commented on MTW shares. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Robert W. Baird reduced their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

Manitowoc Stock Up 1.1 %

Manitowoc stock opened at $9.00 on Friday. Manitowoc has a twelve month low of $8.50 and a twelve month high of $17.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The firm has a market cap of $316.14 million, a PE ratio of -33.33 and a beta of 1.84. The firm’s 50 day moving average price is $9.89 and its two-hundred day moving average price is $10.16.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. During the same period last year, the company posted $0.22 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Manitowoc will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds have recently bought and sold shares of the company. Front Street Capital Management Inc. increased its stake in shares of Manitowoc by 8.4% in the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after purchasing an additional 217,389 shares during the period. State Street Corp increased its position in Manitowoc by 8.1% in the 3rd quarter. State Street Corp now owns 852,093 shares of the industrial products company’s stock worth $8,197,000 after buying an additional 64,101 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Manitowoc by 0.3% during the third quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after buying an additional 2,224 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Manitowoc by 1.3% in the third quarter. Victory Capital Management Inc. now owns 774,115 shares of the industrial products company’s stock worth $7,447,000 after acquiring an additional 9,758 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Manitowoc by 31.1% during the second quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock worth $6,810,000 after acquiring an additional 140,042 shares during the period. 78.66% of the stock is currently owned by institutional investors.

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.