TheStreet upgraded shares of Manitowoc (NYSE:MTW) from a d+ rating to a c- rating in a research note released on Friday, TheStreetRatingsTable reports.

Several other brokerages also recently weighed in on MTW. Goldman Sachs Group downgraded Manitowoc from a buy rating to a neutral rating and lowered their target price for the company from $12.00 to $11.00 in a research note on Monday, April 20th. Citigroup lifted their target price on Manitowoc from $10.00 to $12.00 and gave the company a neutral rating in a research note on Thursday, June 18th. ValuEngine upgraded Manitowoc from a sell rating to a hold rating in a research note on Monday, June 1st. Royal Bank of Canada reiterated a hold rating on shares of Manitowoc in a research note on Sunday, May 10th. Finally, Credit Suisse Group decreased their price target on Manitowoc from $11.00 to $10.00 and set a neutral rating on the stock in a research note on Monday, May 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $14.43.

NYSE:MTW opened at $11.00 on Friday. The stock’s 50 day moving average price is $10.05 and its 200 day moving average price is $11.98. The company has a market capitalization of $361.30 million, a PE ratio of 5.98 and a beta of 1.98. The company has a quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.56. Manitowoc has a 52-week low of $7.24 and a 52-week high of $18.55.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $329.20 million for the quarter, compared to analysts’ expectations of $353.73 million. Manitowoc had a return on equity of 9.41% and a net margin of 3.75%. The company’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, sell-side analysts anticipate that Manitowoc will post -0.73 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of MTW. Towle & Co. acquired a new position in Manitowoc during the first quarter worth $13,095,000. Kennedy Capital Management Inc. acquired a new position in shares of Manitowoc during the 4th quarter worth approximately $7,498,000. Morgan Stanley grew its holdings in Manitowoc by 214.2% in the first quarter. Morgan Stanley now owns 337,959 shares of the industrial products company’s stock worth $2,872,000 after purchasing an additional 230,386 shares during the period. Goldman Sachs Group Inc. grew its holdings in Manitowoc by 144.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,926 shares of the industrial products company’s stock worth $4,882,000 after purchasing an additional 164,700 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Manitowoc by 5,550.2% during the fourth quarter. Marshall Wace LLP now owns 163,518 shares of the industrial products company’s stock valued at $2,862,000 after buying an additional 160,624 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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