Manitowoc (NYSE:MTW – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company lifted their target price on Manitowoc from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Thursday. Barclays lifted their price target on shares of Manitowoc from $16.00 to $20.00 and gave the company an “underweight” rating in a report on Friday. Finally, Weiss Ratings upgraded shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $17.50.
Get Our Latest Research Report on Manitowoc
Manitowoc Trading Down 0.4%
Shares of MTW stock opened at $22.31 on Friday. The stock’s fifty day moving average price is $21.89 and its two-hundred day moving average price is $15.78. The company has a market cap of $805.72 million, a PE ratio of 31.43 and a beta of 1.78. Manitowoc has a fifty-two week low of $10.29 and a fifty-two week high of $25.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 2.11.
Manitowoc (NYSE:MTW – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating 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 company had revenue of $613.80 million for the quarter, compared to analyst estimates of $577.00 million. During the same quarter last year, the company posted $0.14 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts predict that Manitowoc will post 1.08 EPS for the current fiscal year.
Institutional Investors Weigh In On Manitowoc
Several institutional investors and hedge funds have recently made changes to their positions in MTW. Front Street Capital Management Inc. acquired a new stake in Manitowoc during the 2nd quarter valued at approximately $44,547,000. Bank of New York Mellon Corp bought a new position in Manitowoc during the 2nd quarter worth approximately $1,717,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Manitowoc by 37.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company’s stock worth $4,673,000 after purchasing an additional 108,347 shares during the period. Goldstein Advisors LLC boosted its stake in shares of Manitowoc by 3,280.8% in the 3rd quarter. Goldstein Advisors LLC now owns 652,493 shares of the industrial products company’s stock valued at $14,002,000 after purchasing an additional 633,193 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Manitowoc by 100.2% during the second quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock worth $1,754,000 after buying an additional 63,215 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.
About Manitowoc
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.
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