Manitowoc (NYSE:MTW) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Manitowoc (NYSE:MTW) from a sell rating to a strong sell rating in a report published on Monday, February 4th.

A number of other equities research analysts have also commented on MTW. Zacks Investment Research upgraded Manitowoc from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Wednesday, January 2nd. Royal Bank of Canada decreased their price objective on Manitowoc to $35.00 and set an outperform rating on the stock in a research report on Wednesday, November 7th. They noted that the move was a valuation call. Finally, TheStreet lowered Manitowoc from a c rating to a d+ rating in a research report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $29.33.

Shares of MTW stock traded up $0.49 during trading hours on Monday, hitting $18.48. The company had a trading volume of 364,700 shares, compared to its average volume of 693,000. Manitowoc has a 12 month low of $13.22 and a 12 month high of $30.60. The firm has a market cap of $683.22 million, a P/E ratio of 28.88 and a beta of 1.85. The company has a current ratio of 1.70, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $488.02 million. Manitowoc had a positive return on equity of 3.55% and a negative net margin of 3.63%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. Sell-side analysts forecast that Manitowoc will post 1.31 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in Manitowoc by 30.4% during the 4th quarter. Bank of Montreal Can now owns 2,864 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 668 shares in the last quarter. Raymond James & Associates increased its holdings in Manitowoc by 6.6% during the 4th quarter. Raymond James & Associates now owns 12,602 shares of the industrial products company’s stock worth $186,000 after purchasing an additional 782 shares in the last quarter. Legal & General Group Plc increased its holdings in Manitowoc by 12.1% during the 4th quarter. Legal & General Group Plc now owns 14,095 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,520 shares in the last quarter. Stifel Financial Corp increased its holdings in Manitowoc by 11.2% during the 4th quarter. Stifel Financial Corp now owns 16,705 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Manitowoc by 19.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,682 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 1,718 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors.

About Manitowoc

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.

Read More: Book Value Of Equity Per Share – BVPS Explained

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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