Manitowoc Co. (MTW) Given New $4.84 Price Target at Deutsche Bank AG
MTW has been the topic of several other reports. Citigroup Inc. cut 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. Barclays PLC cut 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. Zacks Investment Research upgraded Manitowoc from a hold rating to a buy rating and set a $6.25 target price on the stock in a report on Tuesday, July 5th. Credit Suisse Group AG restated a hold rating and set a $5.50 target price on shares of Manitowoc in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. restated a hold rating on shares of Manitowoc in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $9.36.
Shares of Manitowoc (NYSE:MTW) traded down 1.77% on Wednesday, reaching $4.43. The company had a trading volume of 265,902 shares. The firm’s market capitalization is $609.46 million. Manitowoc has a 52-week low of $2.66 and a 52-week high of $6.15. The company has a 50-day moving average price of $4.64 and a 200-day moving average price of $5.18.
Manitowoc (NYSE:MTW) last posted its 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 last year, the company earned $0.22 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Manitowoc will post ($0.09) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Manitowoc by 14.7% in the second quarter. Teacher Retirement System of Texas now owns 18,276 shares of the company’s stock valued at $100,000 after buying an additional 2,336 shares during the period. Panagora Asset Management Inc. boosted its position in Manitowoc by 369.9% in the second quarter. Panagora Asset Management Inc. now owns 19,107 shares of the company’s stock valued at $104,000 after buying an additional 15,041 shares during the period. Ameriprise Financial Inc. boosted its position in Manitowoc by 44.3% in the second quarter. Ameriprise Financial Inc. now owns 20,242 shares of the company’s stock valued at $111,000 after buying an additional 6,215 shares during the period. Fortaleza Asset Management Inc. bought a new position in Manitowoc during the second quarter valued at $112,000. Finally, Sii Investments Inc. WI boosted its position in Manitowoc by 0.6% in the second quarter. Sii Investments Inc. WI now owns 22,005 shares of the company’s stock valued at $120,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors 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.
Receive News & Ratings for Manitowoc Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc Co. and related companies with MarketBeat.com's FREE daily email newsletter.