The Manitowoc Company, Inc. (NYSE:MTW) Given Average Rating of “Reduce” by Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given a consensus rating of “Reduce” by the five analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.25.

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Manitowoc in a research report on Monday. Finally, Wells Fargo & Company started coverage on shares of Manitowoc in a research note on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target on the stock.

Manitowoc Stock Down 1.1%

Shares of MTW opened at $12.90 on Monday. The company has a market capitalization of $457.53 million, a P/E ratio of 8.11 and a beta of 1.92. Manitowoc has a one year low of $7.06 and a one year high of $13.61. The business’s 50 day simple moving average is $11.12 and its 200-day simple moving average is $11.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66.

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

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently made changes to their positions in MTW. Charles Schwab Investment Management Inc. boosted its holdings in Manitowoc by 16.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock valued at $4,002,000 after acquiring an additional 64,983 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Manitowoc by 126.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,573 shares of the industrial products company’s stock valued at $477,000 after purchasing an additional 31,047 shares during the period. Invesco Ltd. boosted its stake in shares of Manitowoc by 0.8% in the 1st quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company’s stock valued at $10,159,000 after purchasing an additional 9,599 shares during the last quarter. Nuveen LLC bought a new position in shares of Manitowoc in the 1st quarter valued at about $851,000. Finally, Russell Investments Group Ltd. grew its position in shares of Manitowoc by 779.8% during the 1st quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company’s stock worth $1,400,000 after buying an additional 144,498 shares during the period. Institutional investors own 78.66% of the company’s stock.

About Manitowoc

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.