Manitowoc (NYSE:MTW) Stock Rating Upgraded by Wall Street Zen

Manitowoc (NYSE:MTW) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research analysts have also recently weighed in on MTW. Robert W. Baird lowered their price objective on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company began coverage on shares of Manitowoc in a report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Manitowoc in a research report on Monday, December 1st. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Manitowoc currently has an average rating of “Reduce” and an average price target of $10.25.

Manitowoc Trading Up 1.1%

Shares of Manitowoc stock opened at $12.26 on Friday. Manitowoc has a 1-year low of $7.06 and a 1-year high of $13.61. The company’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $11.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66. The stock has a market capitalization of $434.97 million, a PE ratio of 7.71 and a beta of 1.92.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Tuesday, June 7th. The industrial products company reported ($0.06) EPS for the quarter. Manitowoc had a return on equity of 0.87% and a net margin of 2.63%.The company had revenue of $354.30 million during the quarter. As a group, equities analysts anticipate that Manitowoc will post 0.5 earnings per share for the current year.

Hedge Funds Weigh In On Manitowoc

Several institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Manitowoc by 1.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock valued at $3,982,000 after purchasing an additional 4,743 shares during the last quarter. Numerai GP LLC purchased a new stake in shares of Manitowoc in the third quarter worth about $182,000. Brevan Howard Capital Management LP bought a new position in Manitowoc during the third quarter valued at approximately $441,000. CSM Advisors LLC grew its holdings in Manitowoc by 69.5% during the 3rd quarter. CSM Advisors LLC now owns 143,065 shares of the industrial products company’s stock valued at $1,433,000 after buying an additional 58,660 shares in the last quarter. Finally, Aquatic Capital Management LLC grew its holdings in Manitowoc by 175.7% during the 3rd quarter. Aquatic Capital Management LLC now owns 15,344 shares of the industrial products company’s stock valued at $154,000 after buying an additional 9,778 shares in the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.