Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) PT at $12.66

The Manitowoc Company, Inc. (NYSE:MTW) has been given a consensus rating of “Reduce” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $12.56.

Several research analysts have weighed in on MTW shares. JPMorgan Chase & Co. increased their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Barclays cut their price objective on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Manitowoc

A number of large investors have recently bought and sold shares of the company. TCW Group Inc. lifted its holdings in shares of Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after acquiring an additional 160,601 shares during the period. American Century Companies Inc. lifted its stake in Manitowoc by 33.6% during the second quarter. American Century Companies Inc. now owns 262,603 shares of the industrial products company’s stock worth $3,028,000 after purchasing an additional 66,013 shares during the last quarter. Front Street Capital Management Inc. lifted its stake in Manitowoc by 8.4% during the second quarter. Front Street Capital Management Inc. now owns 2,806,642 shares of the industrial products company’s stock worth $32,361,000 after purchasing an additional 217,389 shares during the last quarter. Boston Partners boosted its holdings in shares of Manitowoc by 22.9% in the 1st quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 2,874 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Manitowoc by 31.1% in the 2nd quarter. AQR Capital Management LLC now owns 590,647 shares of the industrial products company’s stock valued at $6,810,000 after purchasing an additional 140,042 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Stock Performance

NYSE MTW opened at $10.04 on Monday. Manitowoc has a 52-week low of $8.85 and a 52-week high of $17.65. The stock has a market cap of $356.83 million, a PE ratio of 13.39 and a beta of 1.84. The firm has a 50-day moving average of $9.63 and a 200-day moving average of $11.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.58 and a current ratio of 1.89.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.24). The firm had revenue of $562.10 million for the quarter, compared to the consensus estimate of $598.00 million. Manitowoc had a return on equity of 4.28% and a net margin of 0.40%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts anticipate that Manitowoc will post 0.64 EPS for the current year.

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.