Manitowoc (NYSE:MTW) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Thursday, September 20th, Marketbeat.com reports. The brokerage currently has a $32.00 price target on the industrial products company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 52.31% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating in a report on Monday, July 16th. Stifel Nicolaus reissued a “buy” rating and set a $33.00 price objective on shares of Manitowoc in a research note on Sunday, August 12th. SunTrust Banks raised shares of Manitowoc from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. Macquarie raised their price objective on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Finally, Citigroup dropped their price objective on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Manitowoc has an average rating of “Buy” and an average price target of $30.92.
NYSE:MTW traded down $0.71 during mid-day trading on Thursday, reaching $21.01. The stock had a trading volume of 530,665 shares, compared to its average volume of 553,684. The company has a quick ratio of 0.73, a current ratio of 1.65 and a debt-to-equity ratio of 0.40. The company has a market cap of $852.52 million, a P/E ratio of -80.81 and a beta of 1.35. Manitowoc has a twelve month low of $20.65 and a twelve month high of $44.03.
Manitowoc (NYSE:MTW) last issued its earnings results on Monday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.17. Manitowoc had a net margin of 2.53% and a return on equity of 2.77%. The company had revenue of $495.30 million during the quarter, compared to analysts’ expectations of $458.03 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year. Analysts expect that Manitowoc will post 0.53 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new position in shares of Manitowoc in the 2nd quarter valued at $269,000. Fox Run Management L.L.C. acquired a new position in shares of Manitowoc in the 2nd quarter valued at $291,000. First Trust Advisors LP acquired a new position in shares of Manitowoc in the 2nd quarter valued at $346,000. Stifel Financial Corp lifted its holdings in shares of Manitowoc by 64.7% during the 1st quarter. Stifel Financial Corp now owns 13,383 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 5,258 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Manitowoc by 476.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,187 shares of the industrial products company’s stock valued at $366,000 after acquiring an additional 11,726 shares in the last quarter. Institutional investors own 82.02% of the company’s stock.
Manitowoc Company Profile
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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