Jefferies Group LLC reaffirmed their buy rating on shares of Manitowoc Company, Inc. (The) (NYSE:MTW) in a report released on Wednesday. Jefferies Group LLC currently has a $9.50 price target on the industrial products company’s stock, up from their previous price target of $8.00. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.15) EPS.

A number of other equities analysts have also weighed in on MTW. TheStreet upgraded Manitowoc Company, Inc. (The) from a d rating to a c- rating in a research note on Monday, August 7th. Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a neutral rating to an outperform rating and increased their target price for the stock from $6.00 to $10.00 in a research note on Wednesday, August 2nd. Credit Suisse Group increased their target price on Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the stock a neutral rating in a research note on Wednesday. Deutsche Bank AG increased their target price on Manitowoc Company, Inc. (The) from $5.81 to $7.85 and gave the stock a hold rating in a research note on Wednesday. Finally, BidaskClub upgraded Manitowoc Company, Inc. (The) from a sell rating to a hold rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $6.99.

Shares of Manitowoc Company, Inc. (NYSE MTW) traded up 1.67% during mid-day trading on Wednesday, hitting $7.93. The stock had a trading volume of 1,453,604 shares. Manitowoc Company, Inc. has a 52 week low of $3.65 and a 52 week high of $8.40. The stock’s market capitalization is $1.11 billion. The stock has a 50 day moving average of $6.20 and a 200-day moving average of $6.07.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The company had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.03 earnings per share. On average, equities research analysts predict that Manitowoc Company, Inc. will post ($0.15) earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Manitowoc Company, Inc. (The) by 33.0% in the first quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock worth $40,744,000 after buying an additional 1,771,886 shares in the last quarter. State Street Corp increased its stake in shares of Manitowoc Company, Inc. (The) by 5.9% in the fourth quarter. State Street Corp now owns 2,291,747 shares of the industrial products company’s stock worth $13,705,000 after buying an additional 126,857 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Manitowoc Company, Inc. (The) during the first quarter worth $213,000. Bank of New York Mellon Corp increased its stake in shares of Manitowoc Company, Inc. (The) by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Manitowoc Company, Inc. (The) by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,117 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

About Manitowoc Company, Inc. (The)

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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