The Manitowoc Company, Inc. (NYSE:MTW) Receives $16.83 Average Target Price from Brokerages

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given a consensus recommendation of “Reduce” by the five research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.83.

A number of analysts recently commented on MTW shares. JPMorgan Chase & Co. decreased their price target on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Barclays decreased their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company decreased their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Finally, StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.

Hedge Funds Weigh In On Manitowoc

Large investors have recently made changes to their positions in the stock. AJOVista LLC bought a new position in shares of Manitowoc in the fourth quarter worth $69,000. Allspring Global Investments Holdings LLC boosted its stake in Manitowoc by 19.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,139 shares of the industrial products company’s stock valued at $77,000 after buying an additional 823 shares during the period. Inlet Private Wealth LLC purchased a new position in Manitowoc during the first quarter worth about $141,000. Arizona State Retirement System purchased a new position in Manitowoc during the third quarter worth about $151,000. Finally, Spire Wealth Management purchased a new position in Manitowoc during the third quarter worth about $174,000. 78.66% of the stock is owned by institutional investors.

Manitowoc Stock Performance

Shares of Manitowoc stock opened at $12.62 on Monday. The company has a market cap of $447.76 million, a PE ratio of 11.58 and a beta of 2.04. Manitowoc has a 52 week low of $12.20 and a 52 week high of $19.81. The business has a 50 day moving average price of $13.40 and a 200-day moving average price of $14.53. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59.

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

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.