Deutsche Bank AG Reaffirms Hold Rating for Manitowoc Company, Inc. (The) (MTW)

Deutsche Bank AG restated their hold rating on shares of Manitowoc Company, Inc. (The) (NYSE:MTW) in a research report sent to investors on Monday. The brokerage currently has a $8.07 price objective on the industrial products company’s stock, up from their prior price objective of $7.85.

MTW has been the subject of a number of other reports. Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a neutral rating to an outperform rating and lifted their target price for the stock from $6.00 to $10.00 in a report on Wednesday, August 2nd. Credit Suisse Group lifted their target price on Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the stock a neutral rating in a report on Wednesday, August 9th. BidaskClub upgraded Manitowoc Company, Inc. (The) from a sell rating to a hold rating in a report on Saturday, August 5th. TheStreet upgraded Manitowoc Company, Inc. (The) from a d rating to a c- rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $8.00 target price on shares of Manitowoc Company, Inc. (The) in a report on Friday, June 16th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $7.81.

Shares of Manitowoc Company, Inc. (NYSE:MTW) opened at 9.19 on Monday. The company’s 50-day moving average price is $8.48 and its 200-day moving average price is $6.70. The company’s market capitalization is $1.29 billion. Manitowoc Company, Inc. has a 1-year low of $3.65 and a 1-year high of $9.97.

Manitowoc Company, Inc. (The) (NYSE:MTW) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The company had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, equities analysts expect that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Manitowoc Company, Inc. (The) by 4.6% during the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after buying an additional 471,356 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Manitowoc Company, Inc. (The) by 21.0% during the second quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock worth $51,970,000 after buying an additional 1,499,384 shares in the last quarter. Southpoint Capital Advisors LP grew its holdings in Manitowoc Company, Inc. (The) by 29.2% during the second quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after buying an additional 1,750,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in Manitowoc Company, Inc. (The) by 14.2% during the second quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock worth $21,331,000 after buying an additional 440,000 shares in the last quarter. Finally, State Street Corp grew its holdings in Manitowoc Company, Inc. (The) by 6.4% during the second quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after buying an additional 150,097 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.

About Manitowoc Company, Inc. (The)

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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