Analysts Set The Manitowoc Company, Inc. (NYSE:MTW) Price Target at $15.75

The Manitowoc Company, Inc. (NYSE:MTW) has been given a consensus rating of “Reduce” by the seven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.75.

A number of research analysts have weighed in on MTW shares. The Goldman Sachs Group reduced their price target on Manitowoc from $15.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. reduced their price target on Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. UBS Group reduced their price target on Manitowoc from $18.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. StockNews.com lowered Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Barclays reduced their price target on Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research note on Monday, April 22nd.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $10.81 on Wednesday. The business’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $12.95. The stock has a market cap of $384.20 million, a PE ratio of 14.41 and a beta of 1.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 1.77. Manitowoc has a one year low of $10.01 and a one year high of $19.48.

Manitowoc (NYSE:MTW) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The company had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. During the same quarter last year, the company posted $0.46 EPS. Manitowoc’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that Manitowoc will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Manitowoc by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock valued at $33,223,000 after purchasing an additional 79,213 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Manitowoc by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company’s stock worth $12,911,000 after acquiring an additional 46,417 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Manitowoc during the 2nd quarter worth approximately $8,813,000. Acadian Asset Management LLC lifted its position in Manitowoc by 4.3% during the 1st quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock worth $6,172,000 after acquiring an additional 18,181 shares in the last quarter. Finally, TCW Group Inc. lifted its position in Manitowoc by 65.4% during the 2nd quarter. TCW Group Inc. now owns 406,186 shares of the industrial products company’s stock worth $4,683,000 after acquiring an additional 160,601 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.