Seaport Global Securities upgraded shares of Manitowoc Company, Inc. (The) (NYSE:MTW) from a neutral rating to a buy rating in a research note published on Monday morning. The firm currently has $48.00 target price on the industrial products company’s stock.

Several other research firms also recently issued reports on MTW. Stifel Nicolaus upped their target price on Manitowoc Company, Inc. (The) from $36.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Jefferies Group LLC reissued a buy rating and issued a $42.00 target price on shares of Manitowoc Company, Inc. (The) in a research report on Friday, October 6th. Royal Bank Of Canada raised Manitowoc Company, Inc. (The) from a sector perform rating to an outperform rating and upped their target price for the company from $30.00 to $48.00 in a research report on Wednesday, November 1st. Citigroup Inc. upped their target price on Manitowoc Company, Inc. (The) from $34.00 to $40.00 and gave the company a neutral rating in a research report on Friday, October 13th. Finally, Deutsche Bank AG reissued a hold rating and issued a $32.28 target price (up from $31.40) on shares of Manitowoc Company, Inc. (The) in a research report on Monday, October 9th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $36.80.

Manitowoc Company, Inc. (NYSE:MTW) opened at $40.34 on Monday. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44. Manitowoc Company, Inc. has a 12-month low of $38.32 and a 12-month high of $168.48.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.44. Manitowoc Company, Inc. (The) had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm had revenue of $399.40 million for the quarter, compared to the consensus estimate of $385.01 million. During the same period in the prior year, the firm earned ($1.12) EPS. The firm’s revenue was up 14.2% on a year-over-year basis. equities analysts predict that Manitowoc Company, Inc. will post -0.04 EPS for the current year.

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Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Manitowoc Company, Inc. (The) by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after acquiring an additional 471,356 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Manitowoc Company, Inc. (The) by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock worth $82,019,000 after acquiring an additional 465,797 shares in the last quarter. Southpoint Capital Advisors LP boosted its stake in shares of Manitowoc Company, Inc. (The) by 29.2% during the 2nd quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after acquiring an additional 1,750,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Manitowoc Company, Inc. (The) by 14.2% during the 2nd quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock worth $21,331,000 after acquiring an additional 440,000 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Manitowoc Company, Inc. (The) by 6.4% during the 2nd quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after acquiring an additional 150,097 shares in the last quarter. 84.09% of the stock is currently 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)

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