Manitowoc Company, Inc. (The) (MTW) Raised to Buy at Seaport Global Securities

Seaport Global Securities upgraded shares of Manitowoc Company, Inc. (The) (NYSE:MTW) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat Ratings reports. Seaport Global Securities currently has $48.00 price target on the industrial products company’s stock. Seaport Global Securities also issued estimates for Manitowoc Company, Inc. (The)’s Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($0.32) EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.28 EPS, Q4 2018 earnings at $0.48 EPS and FY2018 earnings at $1.20 EPS.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Manitowoc Company, Inc. (The) from a hold rating to a buy rating and set a $36.00 target price for the company in a research report on Monday, September 11th. Citigroup Inc. lifted their target price on shares of Manitowoc Company, Inc. (The) from $34.00 to $40.00 and gave the company a neutral rating in a research report on Friday, October 13th. Deutsche Bank AG reiterated a hold rating and set a $32.28 target price (up from $31.40) on shares of Manitowoc Company, Inc. (The) in a research report on Monday, October 9th. Royal Bank Of Canada upgraded shares of Manitowoc Company, Inc. (The) from a sector perform rating to an outperform rating and lifted their target price for the company from $30.00 to $48.00 in a research report on Wednesday, November 1st. Finally, Jefferies Group LLC reiterated a buy rating and set a $42.00 target price on shares of Manitowoc Company, Inc. (The) in a research report on Friday, October 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $36.80.

Shares of Manitowoc Company, Inc. (MTW) opened at $39.05 on Monday. Manitowoc Company, Inc. has a 1 year low of $21.00 and a 1 year high of $42.12. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.44. Manitowoc Company, Inc. (The) had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business had revenue of $399.40 million during the quarter, compared to analyst estimates of $385.01 million. During the same period in the previous year, the business posted ($1.12) earnings per share. Manitowoc Company, Inc. (The)’s revenue for the quarter was up 14.2% on a year-over-year basis. research analysts expect that Manitowoc Company, Inc. will post -0.19 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of MTW. Ameriprise Financial Inc. increased its stake in shares of 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 buying an additional 2,117 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 period. Vanguard Group Inc. increased its stake in shares of Manitowoc Company, Inc. (The) by 5.8% in the first quarter. Vanguard Group Inc. now owns 10,149,967 shares of the industrial products company’s stock worth $57,854,000 after buying an additional 560,479 shares during the period. Geode Capital Management LLC increased its stake in shares of Manitowoc Company, Inc. (The) by 13.1% in the first quarter. Geode Capital Management LLC now owns 1,064,981 shares of the industrial products company’s stock worth $6,070,000 after buying an additional 123,098 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Manitowoc Company, Inc. (The) by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 530,382 shares of the industrial products company’s stock worth $3,024,000 after buying an additional 29,652 shares during the period. 84.09% of the stock is currently owned by institutional investors.

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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