Manitowoc Company, Inc. (The) (MTW) Given Consensus Recommendation of “Hold” by Brokerages

Manitowoc Company, Inc. (The) (NYSE:MTW) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.99.

Several analysts have issued reports on MTW shares. Jefferies Group LLC lifted their price target 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 raised their price objective on Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the company a “hold” rating in a report on Friday, May 12th. BidaskClub cut Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine upgraded Manitowoc Company, Inc. (The) from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $6.50 price objective on shares of Manitowoc Company, Inc. (The) in a report on Thursday, June 22nd.

Manitowoc Company, Inc. (NYSE MTW) traded up 1.28% during mid-day trading on Friday, hitting $7.90. The stock had a trading volume of 1,040,240 shares. Manitowoc Company, Inc. has a 52 week low of $3.65 and a 52 week high of $8.40. The stock’s 50-day moving average is $6.14 and its 200 day moving average is $6.06. The company’s market capitalization is $1.11 billion.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $396.44 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Equities analysts forecast that Manitowoc Company, Inc. will post ($0.15) earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MTW. Philadelphia Trust Co. boosted its position in Manitowoc Company, Inc. (The) by 15.9% in the fourth quarter. Philadelphia Trust Co. now owns 17,090 shares of the industrial products company’s stock worth $102,000 after buying an additional 2,340 shares during the last quarter. Annex Advisory Services LLC boosted its position in Manitowoc Company, Inc. (The) by 22.3% in the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock worth $104,000 after buying an additional 3,158 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Manitowoc Company, Inc. (The) by 646.0% in the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock worth $111,000 after buying an additional 16,065 shares during the last quarter. Leavell Investment Management Inc. boosted its position in Manitowoc Company, Inc. (The) by 37.3% in the first quarter. Leavell Investment Management Inc. now owns 21,386 shares of the industrial products company’s stock worth $122,000 after buying an additional 5,805 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Manitowoc Company, Inc. (The) by 704.5% in the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock worth $130,000 after buying an additional 20,056 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.

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About Manitowoc Company, Inc. (The)

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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