Manitowoc (NYSE:MTW) Downgraded to Sell at StockNews.com

Manitowoc (NYSE:MTW) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other brokerages have also recently commented on MTW. The Goldman Sachs Group reduced their target price on shares of Manitowoc from $15.00 to $13.00 and set a “sell” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday. Barclays cut their price objective on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating on the stock in a research report on Monday, April 22nd. Finally, UBS Group dropped their price objective on Manitowoc from $18.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, June 12th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.75.

Manitowoc Trading Down 0.2 %

Manitowoc stock traded down $0.02 during mid-day trading on Friday, hitting $10.99. The company’s stock had a trading volume of 306,308 shares, compared to its average volume of 266,779. The stock has a market cap of $390.58 million, a price-to-earnings ratio of 14.65 and a beta of 1.91. The business has a 50 day moving average price of $11.60 and a 200-day moving average price of $13.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 0.59. Manitowoc has a 12 month low of $10.01 and a 12 month high of $19.81.

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). The business had revenue of $495.10 million for the quarter, compared to the consensus estimate of $496.93 million. Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. As a group, analysts forecast that Manitowoc will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Manitowoc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in Manitowoc by 97.0% during the second quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 1,482 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Manitowoc by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,810 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 1,516 shares during the period. TCW Group Inc. boosted its stake in shares of Manitowoc by 1.9% during the 4th quarter. TCW Group Inc. now owns 81,415 shares of the industrial products company’s stock worth $1,359,000 after acquiring an additional 1,537 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Manitowoc by 18.1% in the fourth quarter. New York State Common Retirement Fund now owns 17,657 shares of the industrial products company’s stock valued at $295,000 after buying an additional 2,702 shares in the last quarter. Finally, Boston Partners increased its holdings in Manitowoc by 22.9% during the 1st quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 2,874 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

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.