Brokerages Set Manitowoc Co. (MTW) PT at $7.37
Shares of Manitowoc Co. (NYSE:MTW) have earned an average recommendation of “Hold” from the fifteen research firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.37.
Several equities analysts have recently issued reports on MTW shares. Citigroup Inc. lowered their price target on Manitowoc from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 10th. Barclays PLC lowered their price target on Manitowoc from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 12th. Seaport Global Securities cut Manitowoc from a “buy” rating to a “neutral” rating and lowered their price target for the company from $6.00 to $5.00 in a research report on Thursday, October 20th. TheStreet cut Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, November 2nd. Finally, Credit Suisse Group AG set a $4.00 price target on Manitowoc and gave the company a “hold” rating in a research report on Thursday, November 10th.
Manitowoc (NYSE:MTW) opened at 5.37 on Wednesday. The company has a 50-day moving average price of $4.49 and a 200 day moving average price of $5.10. The firm’s market capitalization is $745.21 million. Manitowoc has a 1-year low of $3.65 and a 1-year high of $17.56.
Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, November 1st. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.03. Manitowoc had a negative net margin of 14.06% and a positive return on equity of 2.88%. The business earned $349.80 million during the quarter, compared to analyst estimates of $346.47 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue was down 20.2% compared to the same quarter last year. Equities analysts anticipate that Manitowoc will post ($0.44) earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in Manitowoc by 2,097.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,938,087 shares of the company’s stock worth $18,863,000 after buying an additional 3,758,880 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Manitowoc by 151.9% in the second quarter. BlackRock Fund Advisors now owns 3,051,774 shares of the company’s stock worth $16,632,000 after buying an additional 1,840,495 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Manitowoc during the second quarter worth about $8,791,000. Rutabaga Capital Management LLC MA boosted its stake in Manitowoc by 75.5% in the second quarter. Rutabaga Capital Management LLC MA now owns 3,159,671 shares of the company’s stock worth $17,220,000 after buying an additional 1,359,671 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in Manitowoc during the second quarter worth about $7,005,000. 77.68% of the stock is owned by institutional investors and hedge funds.
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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