J P Morgan Chase & Co upgraded shares of Manitowoc Company, Inc. (The) (NYSE:MTW) from an underweight rating to a neutral rating in a research note published on Thursday, MarketBeat.com reports. J P Morgan Chase & Co currently has $7.00 target price on the industrial products company’s stock, up from their previous target price of $6.00.

Several other research analysts have also weighed in on the stock. Jefferies Group LLC upped their price objective on shares of Manitowoc Company, Inc. (The) from $7.25 to $8.00 and gave the company a hold rating in a research note on Wednesday, May 10th. Deutsche Bank AG increased their price target on shares of Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the stock a hold rating in a research note on Friday, May 12th. BidaskClub lowered shares of Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Manitowoc Company, Inc. (The) from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Manitowoc Company, Inc. (The) currently has an average rating of Hold and an average target price of $7.19.

Shares of Manitowoc Company, Inc. (NYSE:MTW) opened at 7.74 on Thursday. Manitowoc Company, Inc. has a 12 month low of $3.65 and a 12 month high of $8.40. The firm’s market cap is $1.09 billion. The company has a 50-day moving average of $6.50 and a 200-day moving average of $6.11.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. Equities analysts forecast that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Manitowoc Company, Inc. (The) (MTW) Lifted to “Neutral” at J P Morgan Chase & Co” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/21/manitowoc-company-inc-the-mtw-lifted-to-neutral-at-j-p-morgan-chase-co.html.

Several hedge funds have recently bought and sold shares of MTW. Vanguard Group Inc. increased its stake in Manitowoc Company, Inc. (The) by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock valued at $63,834,000 after buying an additional 471,356 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Manitowoc Company, Inc. (The) by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock valued at $51,970,000 after buying an additional 1,499,384 shares in the last quarter. Southpoint Capital Advisors LP increased its stake in Manitowoc Company, Inc. (The) by 29.2% in the second quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock valued at $46,578,000 after buying an additional 1,750,000 shares in the last quarter. Harris Associates L P increased its stake in Manitowoc Company, Inc. (The) by 1.4% in the first quarter. Harris Associates L P now owns 6,597,924 shares of the industrial products company’s stock valued at $37,608,000 after buying an additional 88,500 shares in the last quarter. Finally, Investec Asset Management LTD increased its stake in Manitowoc Company, Inc. (The) by 2.7% in the first quarter. Investec Asset Management LTD now owns 5,111,033 shares of the industrial products company’s stock valued at $29,133,000 after buying an additional 132,031 shares in the last quarter. 79.11% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Stock Ratings for Manitowoc Company Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc Company Inc. (The) and related stocks with our FREE daily email newsletter.