Manitowoc Company, Inc. (The) (NYSE:MTW) PT Raised to $8.00

Manitowoc Company, Inc. (The) (NYSE:MTW) had its price target lifted by Credit Suisse Group from $6.10 to $8.00 in a research note issued to investors on Wednesday, August 9th. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other analysts also recently weighed in on the company. Jefferies Group LLC increased their target price on Manitowoc Company, Inc. (The) from $7.25 to $8.00 and gave the company a hold rating in a research note on Wednesday, May 10th. Deutsche Bank AG increased their target price on Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the company a hold rating in a research note on Friday, May 12th. BidaskClub downgraded Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research note on Wednesday, July 19th. ValuEngine upgraded Manitowoc Company, Inc. (The) from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research downgraded Manitowoc Company, Inc. (The) from a hold rating to a sell rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Manitowoc Company, Inc. (The) currently has a consensus rating of Hold and an average target price of $7.19.

Shares of Manitowoc Company, Inc. (NYSE MTW) traded down 2.40% during trading on Wednesday, hitting $7.74. The company’s stock had a trading volume of 1,623,991 shares. Manitowoc Company, Inc. has a 1-year low of $3.65 and a 1-year high of $8.40. The firm’s 50 day moving average is $6.50 and its 200-day moving average is $6.11. The company’s market capitalization is $1.09 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The firm had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. Analysts forecast that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Manitowoc Company, Inc. (The) by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares during the last quarter. Eos Focused Equity Management L.P. bought a new position in shares of Manitowoc Company, Inc. (The) during the first quarter worth about $1,371,000. Daiwa Securities Group Inc. bought a new position in shares of Manitowoc Company, Inc. (The) during the first quarter worth about $2,039,000. Canada Pension Plan Investment Board boosted its position in shares of Manitowoc Company, Inc. (The) by 96.4% in the first quarter. Canada Pension Plan Investment Board now owns 196,800 shares of the industrial products company’s stock worth $1,122,000 after buying an additional 96,600 shares during the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Manitowoc Company, Inc. (The) by 1,649.5% in the first quarter. Emerald Advisers Inc. PA now owns 1,646,016 shares of the industrial products company’s stock worth $9,382,000 after buying an additional 1,551,930 shares during the last quarter. 79.11% of the stock is owned by institutional investors and hedge funds.

Manitowoc Company, Inc. (The) 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 Company, Inc. (The) (NYSE:MTW)

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