Manitowoc Company Inc (NYSE:MTW)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.40 and last traded at $16.77, with a volume of 12310 shares changing hands. The stock had previously closed at $17.26.
A number of equities analysts recently issued reports on the company. Robert W. Baird upgraded Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Thursday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $33.00 price objective on shares of Manitowoc in a report on Sunday, August 12th. TheStreet cut Manitowoc from a “c” rating to a “d+” rating in a report on Monday, November 26th. Finally, Royal Bank of Canada dropped their price objective on Manitowoc to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.50.
The firm has a market capitalization of $600.69 million, a price-to-earnings ratio of -62.08 and a beta of 1.63. The company has a quick ratio of 0.69, a current ratio of 1.75 and a debt-to-equity ratio of 0.39.
Manitowoc (NYSE:MTW) last issued its earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. Manitowoc had a return on equity of 1.80% and a net margin of 2.56%. The business had revenue of $450.10 million during the quarter, compared to analysts’ expectations of $452.64 million. During the same period in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts expect that Manitowoc Company Inc will post 0.56 EPS for the current year.
Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Manitowoc by 5.2% in the 3rd quarter. Wells Fargo & Company MN now owns 63,518 shares of the industrial products company’s stock worth $1,525,000 after buying an additional 3,111 shares during the period. Rhumbline Advisers lifted its stake in shares of Manitowoc by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 39,808 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 3,255 shares during the last quarter. Summit Global Investments lifted its stake in shares of Manitowoc by 14.8% during the 3rd quarter. Summit Global Investments now owns 28,700 shares of the industrial products company’s stock worth $689,000 after purchasing an additional 3,700 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in shares of Manitowoc by 75.6% during the 3rd quarter. Marshall Wace North America L.P. now owns 16,442 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 7,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Manitowoc by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,359,438 shares of the industrial products company’s stock worth $61,015,000 after purchasing an additional 7,343 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.
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About Manitowoc (NYSE:MTW)
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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