The Manitowoc (NYSE:MTW) Shares Gap Down to $20.81


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Shares of The Manitowoc Company, Inc. (NYSE:MTW) gapped down prior to trading on Thursday . The stock had previously closed at $20.81, but opened at $20.23. The Manitowoc shares last traded at $20.05, with a volume of 3,443 shares.

A number of brokerages have issued reports on MTW. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on The Manitowoc from $17.00 to $23.00 in a research note on Tuesday, March 16th. Zacks Investment Research lowered The Manitowoc from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Friday, February 12th. Citigroup boosted their target price on The Manitowoc from $17.00 to $23.00 in a research report on Tuesday, March 16th. TheStreet upgraded The Manitowoc from a “d+” rating to a “c-” rating in a research report on Tuesday, February 9th. Finally, Robert W. Baird upgraded The Manitowoc from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $17.00 to $31.00 in a research report on Wednesday, March 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The Manitowoc currently has an average rating of “Hold” and a consensus price target of $17.89.

The company has a market cap of $694.47 million, a P/E ratio of -61.20, a PEG ratio of 3.36 and a beta of 2.26. The firm has a 50 day moving average of $18.86 and a 200-day moving average of $13.40. The company has a quick ratio of 0.76, a current ratio of 1.96 and a debt-to-equity ratio of 0.49.

The Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Monday, February 8th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. The Manitowoc had a negative return on equity of 1.02% and a negative net margin of 0.79%. The company had revenue of $430.30 million for the quarter, compared to analysts’ expectations of $432.82 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, research analysts predict that The Manitowoc Company, Inc. will post -0.44 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in MTW. JPMorgan Chase & Co. lifted its holdings in The Manitowoc by 298.4% during the fourth quarter. JPMorgan Chase & Co. now owns 609,968 shares of the industrial products company’s stock worth $8,118,000 after buying an additional 456,876 shares during the period. BlackRock Inc. lifted its holdings in The Manitowoc by 17.9% during the fourth quarter. BlackRock Inc. now owns 2,831,823 shares of the industrial products company’s stock worth $37,691,000 after buying an additional 429,739 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in The Manitowoc during the fourth quarter worth $4,348,000. Front Street Capital Management Inc. lifted its holdings in The Manitowoc by 21.5% during the third quarter. Front Street Capital Management Inc. now owns 1,826,853 shares of the industrial products company’s stock worth $15,364,000 after buying an additional 323,354 shares during the period. Finally, Towle & Co. lifted its holdings in The Manitowoc by 15.5% during the fourth quarter. Towle & Co. now owns 1,670,210 shares of the industrial products company’s stock worth $22,230,000 after buying an additional 223,908 shares during the period. 70.93% of the stock is currently owned by institutional investors.

About The Manitowoc (NYSE:MTW)

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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