Manitowoc (NYSE:MTW) Given New $12.00 Price Target at JPMorgan Chase & Co.

Manitowoc (NYSE:MTW) had its price objective lifted by JPMorgan Chase & Co. from $10.00 to $12.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Manitowoc from $13.00 to $11.30 and set a sell rating on the stock in a research note on Friday, August 9th. StockNews.com lowered shares of Manitowoc from a hold rating to a sell rating in a report on Wednesday, July 24th. Finally, Barclays lowered 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. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $12.56.

Manitowoc Trading Up 1.0 %

Shares of Manitowoc stock opened at $9.85 on Monday. Manitowoc has a 1 year low of $8.85 and a 1 year high of $17.65. The firm has a market cap of $350.08 million, a PE ratio of 13.13 and a beta of 1.84. 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 company has a 50 day simple moving average of $9.67 and a two-hundred day simple moving average of $11.26.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.24). The business had revenue of $562.10 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Analysts expect that Manitowoc will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MTW. Victory Capital Management Inc. bought a new position in Manitowoc in the 2nd quarter worth $8,813,000. Front Street Capital Management Inc. raised its holdings in Manitowoc by 8.4% in the 2nd 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 in the last quarter. Bank of Montreal Can bought a new position in Manitowoc in the 2nd quarter worth $2,385,000. TCW Group Inc. increased its stake in shares of Manitowoc by 65.4% in 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 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 worth $6,810,000 after acquiring an additional 140,042 shares in the last quarter. 78.66% of the stock is currently owned by 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.