Manitowoc Company Inc (MTW) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Manitowoc Company Inc (NYSE:MTW) have been given a consensus recommendation of “Buy” by the eighteen ratings firms that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $37.70.

A number of equities analysts have commented on MTW shares. Zacks Investment Research upgraded shares of Manitowoc from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, September 11th. Jefferies Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Manitowoc in a report on Thursday, September 21st. Deutsche Bank reiterated a “hold” rating and issued a $32.28 price objective (up previously from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Citigroup upped their target price on shares of Manitowoc from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Finally, SunTrust Banks restated a “hold” rating and issued a $28.00 target price on shares of Manitowoc in a research note on Friday, October 27th.

In other Manitowoc news, Director Charles David Myers acquired 3,854 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was acquired at an average price of $39.12 per share, with a total value of $150,768.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.82% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in MTW. Cipher Capital LP bought a new stake in shares of Manitowoc during the 3rd quarter valued at about $109,000. BNP Paribas Arbitrage SA grew its position in shares of 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 buying an additional 16,065 shares during the last quarter. Invictus RG bought a new stake in shares of Manitowoc during the 3rd quarter valued at about $124,000. Advisor Group Inc. grew its position in Manitowoc by 2.4% in the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 572 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Manitowoc by 14.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 3,733 shares during the last quarter.

Shares of Manitowoc (MTW) traded down $0.35 during mid-day trading on Tuesday, reaching $39.54. 292,600 shares of the company’s stock were exchanged, compared to its average volume of 420,549. Manitowoc has a 52-week low of $21.00 and a 52-week high of $42.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. The firm has a market cap of $1,410.00, a price-to-earnings ratio of -28.86 and a beta of 1.56.

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

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About Manitowoc

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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