Manitowoc (MTW) Research Coverage Started at Barclays

Barclays initiated coverage on shares of Manitowoc (NYSE:MTW) in a research note released on Tuesday, Marketbeat.com reports. The brokerage issued an overweight rating and a $45.00 price target on the industrial products company’s stock.

MTW has been the topic of a number of other research reports. Jefferies Group reaffirmed a buy rating and set a $42.00 price target on shares of Manitowoc in a research note on Friday, October 6th. SunTrust Banks reaffirmed a hold rating and set a $28.00 price target on shares of Manitowoc in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Manitowoc from a buy rating to a hold rating in a research note on Wednesday, October 11th. Royal Bank of Canada raised shares of Manitowoc from a sector perform rating to an outperform rating and increased their price target for the stock from $30.00 to $48.00 in a research note on Wednesday, November 1st. Finally, Citigroup increased their price target on shares of Manitowoc from $34.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, October 13th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $37.89.

Manitowoc (NYSE MTW) traded up $0.41 during trading hours on Tuesday, reaching $39.30. 423,927 shares of the company’s stock were exchanged, compared to its average volume of 200,388. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44. Manitowoc has a 12 month low of $21.00 and a 12 month high of $42.12.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.44. The company had revenue of $399.40 million for the quarter, compared to the consensus estimate of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. Manitowoc’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.12) earnings per share. equities analysts predict that Manitowoc will post -0.19 earnings per share for the current fiscal year.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.82% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTW. Annex Advisory Services LLC grew its holdings in Manitowoc by 22.3% during the 2nd quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 3,158 shares in the last quarter. Cipher Capital LP acquired a new stake in Manitowoc during the 3rd quarter valued at $109,000. BNP Paribas Arbitrage SA grew its holdings in Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 16,065 shares in the last quarter. Invictus RG acquired a new stake in Manitowoc during the 3rd quarter valued at $124,000. Finally, Advisor Group Inc. grew its holdings in Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares in the last quarter.

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Manitowoc Company Profile

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 (NYSE:MTW)

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