The Manitowoc Company, Inc. (NYSE:MTW) Given Average Recommendation of “Reduce” by Analysts

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have been given an average recommendation of “Reduce” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.25.

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company began coverage on Manitowoc in a report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manitowoc in a research report on Monday, December 22nd.

Manitowoc Trading Up 3.0%

NYSE:MTW opened at $13.37 on Friday. The firm has a market capitalization of $474.23 million, a P/E ratio of 8.41 and a beta of 1.88. 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 company’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $11.35.

Manitowoc (NYSE:MTW) last announced its earnings results 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 business had revenue of $354.30 million for the quarter. As a group, analysts forecast that Manitowoc will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $47,000. Tower Research Capital LLC TRC lifted its position 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 valued at $55,000 after acquiring an additional 2,575 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Manitowoc during the 2nd quarter valued at $84,000. CWM LLC increased its holdings 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 in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Manitowoc in the 2nd quarter worth $105,000. Institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.