Manitowoc (NYSE:MTW) PT Lowered to $15.00

Manitowoc (NYSE:MTW) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $17.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.19% from the stock’s current price.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Company decreased their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Manitowoc currently has a consensus rating of “Hold” and a consensus target price of $17.33.

Manitowoc Price Performance

Manitowoc stock opened at $12.91 on Tuesday. The company’s fifty day moving average price is $13.83 and its 200 day moving average price is $14.61. Manitowoc has a 1 year low of $12.20 and a 1 year high of $19.81. The stock has a market capitalization of $458.05 million, a P/E ratio of 11.84 and a beta of 2.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (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 company had revenue of $595.80 million during the quarter, compared to analyst estimates of $583.90 million. During the same period in the prior year, the business posted $0.74 EPS. Manitowoc’s revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Manitowoc will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. JPMorgan Chase & Co. raised its holdings in shares of Manitowoc by 2.5% during the 1st quarter. JPMorgan Chase & Co. now owns 526,525 shares of the industrial products company’s stock worth $7,941,000 after acquiring an additional 12,948 shares during the period. American Century Companies Inc. purchased a new position in shares of Manitowoc during the 1st quarter worth $339,000. US Bancorp DE raised its holdings in shares of Manitowoc by 43.6% during the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 1,146 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Manitowoc by 59.8% during the 1st quarter. MetLife Investment Management LLC now owns 15,934 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 5,963 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Manitowoc by 2.7% during the 1st quarter. BlackRock Inc. now owns 3,635,795 shares of the industrial products company’s stock worth $54,827,000 after acquiring an additional 95,428 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

About Manitowoc

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.