Manitowoc (NYSE:MTW) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Manitowoc (NYSE:MTW) from a strong-buy rating to a buy rating in a report released on Sunday.

Several other research firms have also issued reports on MTW. Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a report on Monday, December 8th. Wells Fargo & Company assumed coverage on shares of Manitowoc in a research report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price objective for the company. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $10.25.

Manitowoc Stock Down 1.1%

Shares of MTW opened at $12.90 on Friday. The stock’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $11.14. Manitowoc has a 12 month low of $7.06 and a 12 month high of $13.61. The company has a market capitalization of $457.53 million, a PE ratio of 8.11 and a beta of 1.92. The company has a current ratio of 2.14, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. The company had revenue of $354.30 million during the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. On average, analysts anticipate that Manitowoc will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Manitowoc

Several institutional investors have recently made changes to their positions in MTW. Vanguard Group Inc. grew its stake in shares of Manitowoc by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,139,051 shares of the industrial products company’s stock valued at $21,412,000 after buying an additional 6,043 shares during the period. Invesco Ltd. raised its stake in Manitowoc by 0.8% during the 1st quarter. Invesco Ltd. now owns 1,182,668 shares of the industrial products company’s stock worth $10,159,000 after buying an additional 9,599 shares during the period. First Eagle Investment Management LLC boosted its holdings in Manitowoc by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 834,869 shares of the industrial products company’s stock worth $8,357,000 after acquiring an additional 16,046 shares in the last quarter. Geode Capital Management LLC grew its stake in Manitowoc by 0.4% in the second quarter. Geode Capital Management LLC now owns 826,240 shares of the industrial products company’s stock valued at $9,934,000 after acquiring an additional 3,569 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Manitowoc by 16.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock valued at $4,002,000 after acquiring an additional 64,983 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.