Shares of Manitowoc Company Inc (NYSE:MTW) have received an average recommendation of “Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.75.
A number of brokerages recently issued reports on MTW. Stifel Nicolaus raised their price target on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Deutsche Bank restated a “hold” rating and issued a $32.28 price target (up from $31.40) on shares of Manitowoc in a research report on Monday, October 9th. Barclays began coverage on Manitowoc in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target for the company. Robert W. Baird restated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. Finally, Citigroup raised their price target on Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th.
In other Manitowoc news, Director Charles David Myers bought 3,854 shares of Manitowoc stock in a transaction on Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.82% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new stake in Manitowoc in the fourth quarter worth $799,000. Neuberger Berman Group LLC increased its stake in Manitowoc by 5.2% in the third quarter. Neuberger Berman Group LLC now owns 2,332,981 shares of the industrial products company’s stock worth $20,997,000 after purchasing an additional 116,087 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Manitowoc in the third quarter worth $308,000. Jane Street Group LLC increased its stake in Manitowoc by 210.2% in the third quarter. Jane Street Group LLC now owns 77,553 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 52,554 shares during the period. Finally, Private Advisor Group LLC increased its stake in Manitowoc by 46.4% in the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 10,050 shares during the period.
Manitowoc (NYSE:MTW) traded up $1.64 during midday trading on Friday, hitting $39.90. The stock had a trading volume of 1,056,806 shares, compared to its average volume of 457,273. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The company has a market cap of $1,400.00, a P/E ratio of -29.12 and a beta of 1.56. Manitowoc has a 52-week low of $21.00 and a 52-week high of $42.12.
Manitowoc (NYSE:MTW) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.44. The firm had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.12) EPS. equities analysts expect that Manitowoc will post -0.18 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece was reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.truebluetribune.com/2018/01/20/manitowoc-company-inc-mtw-given-average-rating-of-buy-by-analysts.html.
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.
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.