Manitowoc Co. (MTW) PT Lowered to $4.84
Manitowoc Co. (NYSE:MTW) had its price target cut by equities researchers at Deutsche Bank AG from $5.25 to $4.84 in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price target suggests a potential upside of 6.61% from the company’s current price.
Several other analysts also recently issued reports on MTW. Barclays PLC decreased their price objective on shares of Manitowoc from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reissued a “hold” rating on shares of Manitowoc in a research note on Monday, August 8th. Citigroup Inc. decreased their price target on shares of Manitowoc from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $5.50 price target on shares of Manitowoc in a research note on Tuesday, August 9th. Finally, Zacks Investment Research raised shares of Manitowoc from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.36.
Manitowoc (NYSE:MTW) traded down 0.88% on Wednesday, hitting $4.50. The stock had a trading volume of 122,240 shares. The stock has a 50 day moving average price of $4.66 and a 200 day moving average price of $5.19. Manitowoc has a 1-year low of $4.00 and a 1-year high of $17.56. The company’s market cap is $619.09 million.
Manitowoc (NYSE:MTW) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The company earned $457.70 million during the quarter, compared to analyst estimates of $466.92 million. Manitowoc had a positive return on equity of 9.23% and a negative net margin of 5.97%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. On average, equities research analysts expect that Manitowoc will post ($0.09) EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Manitowoc by 293.2% in the first quarter. BlackRock Inc. now owns 23,828 shares of the company’s stock worth $103,000 after buying an additional 17,768 shares during the period. HBK Investments L P raised its stake in shares of Manitowoc by 2,733.5% in the first quarter. HBK Investments L P now owns 1,020,046 shares of the company’s stock worth $4,417,000 after buying an additional 984,046 shares during the period. Sii Investments Inc. WI raised its stake in shares of Manitowoc by 0.6% in the second quarter. Sii Investments Inc. WI now owns 22,005 shares of the company’s stock worth $120,000 after buying an additional 125 shares during the period. Investec Asset Management LTD raised its stake in shares of Manitowoc by 2,181.1% in the first quarter. Investec Asset Management LTD now owns 3,709,667 shares of the company’s stock worth $16,063,000 after buying an additional 3,547,040 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Manitowoc by 15.4% in the second quarter. Private Advisor Group LLC now owns 26,166 shares of the company’s stock worth $134,000 after buying an additional 3,500 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.
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