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

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have received a consensus recommendation of “Reduce” from the six ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.47.

A number of brokerages have recently weighed in on MTW. Barclays cut their price target 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. The Goldman Sachs Group lowered their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Robert W. Baird reduced their price target on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors have recently added to or reduced their stakes in the business. Isthmus Partners LLC grew its position in shares of Manitowoc by 1.8% in the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock valued at $25,000 after buying an additional 3,767 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Manitowoc in the second quarter worth approximately $26,000. US Bancorp DE boosted its holdings in Manitowoc by 88.1% in the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,327 shares during the last quarter. CWM LLC raised its holdings in Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,482 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Manitowoc in the 3rd quarter worth approximately $51,000. 78.66% of the stock is owned by institutional investors.

Manitowoc Trading Down 3.9 %

Shares of NYSE:MTW opened at $10.76 on Friday. The business’s 50 day simple moving average is $9.70 and its 200 day simple moving average is $10.76. Manitowoc has a 1 year low of $8.50 and a 1 year high of $17.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The company has a market capitalization of $377.97 million, a P/E ratio of -39.85 and a beta of 1.84.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.14). Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%. The company had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts anticipate that Manitowoc will post 0.46 EPS for the current fiscal 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.