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

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been assigned an average recommendation of “Reduce” from the six research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $13.22.

A number of research firms recently commented on MTW. JPMorgan Chase & Co. decreased their price objective on Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. UBS Group decreased their price objective on Manitowoc from $18.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, June 12th. The Goldman Sachs Group decreased their price target on Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. Barclays decreased their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com cut Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th.

Hedge Funds Weigh In On Manitowoc

Institutional investors have recently added to or reduced their stakes in the stock. Isthmus Partners LLC boosted its position in shares of Manitowoc by 1.8% during the 2nd quarter. Isthmus Partners LLC now owns 214,984 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 3,767 shares in the last quarter. Innealta Capital LLC purchased a new position in Manitowoc in the second quarter valued at about $26,000. CWM LLC lifted its position in shares of Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 1,482 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Manitowoc by 63.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,728 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,828 shares in the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Manitowoc in the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Price Performance

MTW stock opened at $9.95 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.89 and a quick ratio of 0.58. The business has a 50 day simple moving average of $10.54 and a 200-day simple moving average of $11.77. The firm has a market capitalization of $353.63 million, a PE ratio of 13.27 and a beta of 1.85. Manitowoc has a 1 year low of $8.85 and a 1 year high of $17.65.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results 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 company had revenue of $562.10 million during the quarter, compared to analysts’ expectations of $598.00 million. Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. Manitowoc’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Manitowoc will post 0.64 earnings per share for the current fiscal year.

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.