Manitowoc Company, Inc. (The) (MTW) Price Target Raised to $10.00

Manitowoc Company, Inc. (The) (NYSE:MTW) had its price target upped by equities researchers at Citigroup Inc. from $8.50 to $10.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s target price would indicate a potential upside of 7.87% from the company’s previous close.

Several other research analysts have also weighed in on MTW. ValuEngine raised shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. UBS AG reaffirmed a “neutral” rating and set a $8.00 target price (up previously from $6.00) on shares of Manitowoc Company, Inc. (The) in a research note on Thursday, August 10th. TheStreet raised shares of Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Zacks Investment Research lowered shares of Manitowoc Company, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird raised shares of Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $6.00 to $10.00 in a research note on Wednesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Manitowoc Company, Inc. (The) has an average rating of “Hold” and a consensus target price of $8.01.

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, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The company had revenue of $394.60 million during the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. Manitowoc Company, Inc. (The)’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share.

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A number of institutional investors have recently modified their holdings of MTW. Nationwide Fund Advisors lifted its stake in Manitowoc Company, Inc. (The) by 1.7% in the first quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock worth $595,000 after acquiring an additional 1,783 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 acquiring an additional 45,461 shares during the last quarter. Karp Capital Management Corp purchased a new position in Manitowoc Company, Inc. (The) in the first quarter worth approximately $161,000. Ameriprise Financial Inc. lifted its stake in Manitowoc Company, Inc. (The) by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 2,117 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Manitowoc Company, Inc. (The) by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,085 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

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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