Shares of Manitowoc Co. (NYSE:MTW) dropped 1.1% during trading on Wednesday . The stock traded as low as $5.56 and last traded at $5.65, with a volume of 818,601 shares changing hands. The stock had previously closed at $5.71.

MTW has been the subject of several analyst reports. TheStreet lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Jefferies Group reissued a “buy” rating and set a $7.00 price target (up from $5.00) on shares of Manitowoc in a research report on Monday, May 9th. Vetr raised shares of Manitowoc from a “hold” rating to a “buy” rating and set a $5.95 price target for the company in a research report on Thursday, May 19th. Credit Suisse Group AG reissued a “buy” rating on shares of Manitowoc in a research report on Sunday, March 27th. Finally, Citigroup Inc. increased their price target on shares of Manitowoc from $3.38 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $10.70.

The stock’s market cap is $767.29 million. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $8.09.

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

Several hedge funds recently modified their holdings of MTW. Harris Associates L P increased its stake in shares of Manitowoc by 41.9% in the fourth quarter. Harris Associates L P now owns 6,594,824 shares of the company’s stock valued at $101,231,000 after buying an additional 1,946,224 shares in the last quarter. Morgan Stanley increased its stake in shares of Manitowoc by 22.9% in the fourth quarter. Morgan Stanley now owns 6,029,565 shares of the company’s stock valued at $92,554,000 after buying an additional 1,124,450 shares in the last quarter. California Public Employees Retirement System increased its stake 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 valued at $5,412,000 after buying an additional 9,800 shares in the last quarter. California State Teachers Retirement System increased its stake 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 valued at $3,997,000 after buying an additional 4,186 shares in the last quarter. Finally, Sei Investments Co. increased its stake 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 in the last quarter.

The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). 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.

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