Manitowoc (NYSE:MTW) Stock Rating Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Manitowoc (NYSE:MTW) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on MTW. Barclays increased their target price on Manitowoc from $16.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday. Weiss Ratings raised Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Manitowoc from $12.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $17.50.

Manitowoc Stock Up 3.0%

Manitowoc stock opened at $22.31 on Friday. The company has a market capitalization of $804.61 million, a PE ratio of 31.43 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.75 and a current ratio of 2.11. Manitowoc has a fifty-two week low of $10.29 and a fifty-two week high of $25.22. The firm has a 50 day moving average price of $21.89 and a 200 day moving average price of $15.78.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11. Manitowoc had a return on equity of 4.75% and a net margin of 1.10%. The business had revenue of $613.80 million during the quarter, compared to analyst estimates of $577.00 million. During the same period last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts expect that Manitowoc will post 1.08 earnings per share for the current year.

Institutional Trading of Manitowoc

A number of large investors have recently modified their holdings of MTW. Fulcrum Asset Management LLP acquired a new position in shares of Manitowoc during the third quarter worth about $133,000. Commonwealth Equity Services LLC acquired a new stake in Manitowoc in the third quarter valued at approximately $635,000. Associated Banc Corp acquired a new stake in Manitowoc in the third quarter valued at approximately $1,223,000. Vise Technologies Inc. raised its holdings in Manitowoc by 19.0% in the third quarter. Vise Technologies Inc. now owns 35,024 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 5,583 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Manitowoc by 583.2% in the third quarter. Signaturefd LLC now owns 1,544 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 1,318 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.