Manitowoc Co. (MTW) Shares Up 1.8%
Manitowoc Co. (NYSE:MTW)’s share price shot up 1.8% on Friday . The stock traded as high as $5.08 and last traded at $5.01, with a volume of 2,412,058 shares changing hands. The stock had previously closed at $4.92.
Several brokerages recently weighed in on MTW. Citigroup Inc. restated a “hold” rating on shares of Manitowoc in a report on Saturday, May 14th. Credit Suisse Group AG restated a “hold” rating and issued a $4.24 price objective on shares of Manitowoc in a report on Thursday, May 5th. Zacks Investment Research upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, May 20th. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.00 to $7.00 in a report on Friday, May 6th. Finally, Vetr upgraded shares of Manitowoc from a “hold” rating to a “buy” rating and set a $5.95 price objective on the stock in a report on Monday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.75.
The company’s market capitalization is $692.01 million. The stock has a 50 day moving average of $5.38 and a 200 day moving average of $6.82.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. During the same period last year, the firm posted $0.22 earnings per share. The company had revenue of $457.70 million for the quarter, compared to the consensus estimate of $466.92 million. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts expect that Manitowoc Co. will post ($0.10) EPS for the current fiscal 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.