Manitowoc Co. (NYSE:MTW) shares dropped 7.9% during trading on Tuesday . The company traded as low as $5.05 and last traded at $5.11, with a volume of 3,027,588 shares traded. The stock had previously closed at $5.55.

MTW has been the topic of a number of recent research reports. Jefferies Group reduced their target price on shares of Manitowoc from $18.50 to $5.50 in a research report on Monday, March 14th. Credit Suisse Group AG cut shares of Manitowoc from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $5.10 to $4.24 in a research report on Monday, April 4th. Goldman Sachs Group Inc. upped their price target on shares of Manitowoc from $3.25 to $3.75 in a report on Monday, March 28th. Citigroup Inc. upped their price target on shares of Manitowoc from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Friday, May 13th. Finally, TheStreet raised shares of Manitowoc from a “hold” rating to a “buy” rating in a report on Wednesday, March 9th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.70.

The company’s market capitalization is $714.54 million. The stock’s 50-day moving average price is $5.59 and its 200 day moving average price is $8.69.

Manitowoc (NYSE:MTW) last issued its earnings results on Wednesday, May 4th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.02. The company earned $427.40 million during the quarter, compared to analysts’ expectations of $365.29 million. Manitowoc’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. Equities research analysts forecast that Manitowoc Co. will post $0.11 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have recently modified their holdings of MTW. Sei Investments Co. boosted its position in shares of Manitowoc by 1,178.1% in the fourth quarter. Sei Investments Co. now owns 192,576 shares of the company’s stock valued at $2,956,000 after buying an additional 177,509 shares during the period. California State Teachers Retirement System boosted its position in shares of Manitowoc by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 260,376 shares of the company’s stock worth $3,997,000 after buying an additional 4,186 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Manitowoc by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 352,600 shares of the company’s stock worth $5,412,000 after buying an additional 9,800 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Manitowoc by 2.3% in the fourth quarter. Neuberger Berman Group LLC now owns 2,751,205 shares of the company’s stock worth $42,231,000 after buying an additional 62,575 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Manitowoc by 22.9% in the fourth quarter. Morgan Stanley now owns 6,029,565 shares of the company’s stock worth $92,554,000 after buying an additional 1,124,450 shares during the last quarter.

The Manitowoc Company, Inc is a global manufacturer of cranes and lift solutions. The Company operates in Cranes and Related Products (Crane) segment. Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.