Manitowoc Co. (MTW) Shares Up 1.8%
Manitowoc Co. (NYSE:MTW) shares shot up 1.8% during trading on Friday . The company traded as high as $5.08 and last traded at $5.01, with a volume of 2,412,058 shares traded. The stock had previously closed at $4.92.
A number of brokerages recently commented on MTW. Citigroup Inc. lowered their price objective on Manitowoc from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Manitowoc in a research note on Monday, August 8th. Credit Suisse Group AG reissued a “hold” rating and issued a $5.50 price target on shares of Manitowoc in a research note on Tuesday, August 9th. Zacks Investment Research cut Manitowoc from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Vetr raised Manitowoc from a “hold” rating to a “buy” rating and set a $5.95 price target for the company in a research note on Monday, June 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.75.
The company’s 50 day moving average is $5.39 and its 200 day moving average is $6.89. The company’s market capitalization is $692.01 million.
Manitowoc (NYSE:MTW) last released its earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. During the same period last year, the business posted $0.22 earnings per share. The firm earned $457.70 million during the quarter, compared to analyst estimates of $466.92 million. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts anticipate that Manitowoc Co. will post ($0.10) EPS for the current year.
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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