ValuEngine Lowers Manitowoc (NYSE:MTW) to Strong Sell

Manitowoc (NYSE:MTW) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday, ValuEngine reports.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research note on Tuesday, August 13th. Robert W. Baird lowered Manitowoc from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Monday, August 12th. Barclays reiterated a “buy” rating and set a $15.00 target price on shares of Manitowoc in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated a “hold” rating and set a $20.00 target price on shares of Manitowoc in a research note on Tuesday, August 13th. Finally, Citigroup lowered Manitowoc from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $16.00 to $10.00 in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Shares of MTW traded up $2.29 during mid-day trading on Friday, reaching $16.21. The company’s stock had a trading volume of 2,049,000 shares, compared to its average volume of 422,777. Manitowoc has a 1-year low of $10.49 and a 1-year high of $20.09. The stock has a market cap of $501.58 million, a P/E ratio of 25.33, a PEG ratio of 0.84 and a beta of 2.16. The business has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $14.99. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56.

Manitowoc (NYSE:MTW) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. Manitowoc had a positive return on equity of 7.97% and a negative net margin of 2.52%. The company had revenue of $448.00 million during the quarter, compared to analysts’ expectations of $455.27 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Research analysts anticipate that Manitowoc will post 1.7 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Manitowoc during the third quarter worth approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Manitowoc by 20.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC increased its stake in Manitowoc by 513.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 4,193 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Manitowoc by 264.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 6,961 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Manitowoc by 104.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 5,056 shares during the period. Institutional investors own 78.87% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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