Wall Street Zen Upgrades Manitowoc (NYSE:MTW) to Hold

Manitowoc (NYSE:MTW) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other equities research analysts have also commented on the stock. Robert W. Baird decreased their price objective on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Barclays increased their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Finally, UBS Group increased their price objective on shares of Manitowoc from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Manitowoc Stock Down 0.0%

MTW opened at $10.1050 on Friday. The firm’s 50-day simple moving average is $11.81 and its 200-day simple moving average is $10.40. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 2.07. Manitowoc has a twelve month low of $7.06 and a twelve month high of $13.61. The firm has a market cap of $358.32 million, a price-to-earnings ratio of 8.08 and a beta of 2.07.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, August 7th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.12). Manitowoc had a negative return on equity of 0.33% and a net margin of 2.11%.The firm had revenue of $539.50 million during the quarter, compared to the consensus estimate of $580.18 million. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Manitowoc in the 4th quarter valued at about $35,000. Tower Research Capital LLC TRC boosted its stake in shares of Manitowoc by 131.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 2,575 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Manitowoc in the 2nd quarter valued at about $84,000. CWM LLC boosted its stake in shares of Manitowoc by 669.9% in the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 6,377 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Manitowoc by 10.0% in the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 1,030 shares during the period. 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.