Manitowoc Co. (MTW) Receives Consensus Rating of “Hold” from Brokerages
Manitowoc Co. (NYSE:MTW) has received an average recommendation of “Hold” from the seventeen research firms that are presently covering the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.81.
Several equities research analysts have commented on the company. Deutsche Bank AG dropped their target price on Manitowoc from $5.25 to $4.84 and set a “hold” rating on the stock in a report on Wednesday. Barclays PLC dropped their target price on Manitowoc from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup Inc. dropped their target price on Manitowoc from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Manitowoc in a report on Monday, August 8th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $5.50 target price on shares of Manitowoc in a report on Tuesday, August 9th.
Shares of Manitowoc (NYSE:MTW) traded down 1.54% during midday trading on Wednesday, reaching $4.47. The company had a trading volume of 417,340 shares. Manitowoc has a 1-year low of $4.00 and a 1-year high of $17.56. The stock’s market capitalization is $614.96 million. The company’s 50-day moving average is $4.66 and its 200-day moving average is $5.19.
Manitowoc (NYSE:MTW) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Manitowoc had a positive return on equity of 9.23% and a negative net margin of 5.97%. The company had revenue of $457.70 million for the quarter, compared to analyst estimates of $466.92 million. During the same period in the previous year, the company posted $0.22 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Manitowoc will post ($0.09) EPS for the current year.
Hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Manitowoc during the second quarter worth approximately $387,000. Gray Financial Group GA ADV ADV bought a new stake in shares of Manitowoc during the second quarter worth approximately $134,000. Toth Financial Advisory Corp boosted its stake in shares of Manitowoc by 2.3% in the second quarter. Toth Financial Advisory Corp now owns 195,700 shares of the company’s stock worth $1,067,000 after buying an additional 4,485 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Manitowoc during the first quarter worth approximately $220,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Manitowoc during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
Manitowoc Company Profile
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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