Manitowoc Company, Inc. (The) (MTW) Rating Reiterated by SunTrust Banks, Inc.

Manitowoc Company, Inc. (The) (NYSE:MTW)‘s stock had its “hold” rating reaffirmed by research analysts at SunTrust Banks, Inc. in a research report issued on Friday. They currently have a $7.00 target price on the industrial products company’s stock. SunTrust Banks, Inc.’s target price indicates a potential downside of 24.81% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BidaskClub raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and set a $9.50 target price (up previously from $8.00) on shares of Manitowoc Company, Inc. (The) in a report on Wednesday, August 9th. Zacks Investment Research raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Monday, September 11th. TheStreet raised Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a report on Monday, August 7th. Finally, ValuEngine raised Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.19.

Manitowoc Company, Inc. (NYSE:MTW) traded up 3.10% during mid-day trading on Friday, reaching $9.31. 1,093,665 shares of the company’s stock were exchanged. The company’s market cap is $1.31 billion. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $9.97. The stock has a 50-day moving average price of $8.80 and a 200 day moving average price of $6.96.

Manitowoc Company, Inc. (The) (NYSE:MTW) last posted its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The company had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. During the same quarter last year, the firm earned $0.03 earnings per share. The company’s revenue was down 13.8% on a year-over-year basis. Equities analysts predict that Manitowoc Company, Inc. will post ($0.14) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Manitowoc Company, Inc. (The) (MTW) Rating Reiterated by SunTrust Banks, Inc.” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/10/29/manitowoc-company-inc-the-mtw-rating-reiterated-by-suntrust-banks-inc.html.

A number of hedge funds have recently bought and sold shares of the stock. IFC Holdings Incorporated FL raised its stake in Manitowoc Company, Inc. (The) by 197.8% in the third quarter. IFC Holdings Incorporated FL now owns 110,800 shares of the industrial products company’s stock valued at $997,000 after purchasing an additional 73,600 shares in the last quarter. Nationwide Fund Advisors raised its stake in Manitowoc Company, Inc. (The) by 33.9% in the third quarter. Nationwide Fund Advisors now owns 142,328 shares of the industrial products company’s stock valued at $1,281,000 after purchasing an additional 36,018 shares in the last quarter. Alpha Windward LLC acquired a new position in Manitowoc Company, Inc. (The) in the third quarter valued at about $537,000. Verition Fund Management LLC raised its stake in Manitowoc Company, Inc. (The) by 25.0% in the second quarter. Verition Fund Management LLC now owns 36,488 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 7,294 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Manitowoc Company, Inc. (The) by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,071,572 shares of the industrial products company’s stock valued at $6,441,000 after purchasing an additional 51,175 shares in the last quarter. 80.94% of the stock is owned by institutional investors and hedge funds.

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)

What are top analysts saying about Manitowoc Company Inc. (The)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Manitowoc Company Inc. (The) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit