The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.25 Average Target Price from Brokerages

The Manitowoc Company, Inc. (NYSE:MTW) has received a consensus recommendation of “Reduce” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.25.

Several equities research analysts have weighed in on MTW shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a report on Monday, December 8th. Wall Street Zen lowered shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Wells Fargo & Company started coverage on Manitowoc in a research note on Thursday, November 13th. They issued an “underweight” rating and a $9.00 target price on the stock.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently made changes to their positions in MTW. Quantbot Technologies LP purchased a new stake in Manitowoc in the third quarter worth $47,000. Tower Research Capital LLC TRC raised its holdings in Manitowoc by 131.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 2,575 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Manitowoc in the 2nd quarter worth $84,000. CWM LLC lifted its position in shares of Manitowoc by 669.9% in the 2nd quarter. CWM LLC now owns 7,329 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 6,377 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Manitowoc during the 2nd quarter valued at about $105,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $12.90 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66. Manitowoc has a one year low of $7.06 and a one year high of $13.61. The business’s 50 day simple moving average is $11.12 and its two-hundred day simple moving average is $11.14. The stock has a market capitalization of $457.53 million, a P/E ratio of 8.11 and a beta of 1.92.

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

About Manitowoc

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.