Manitowoc Company Inc (MTW) Receives $37.70 Consensus Price Target from Brokerages

Manitowoc Company Inc (NYSE:MTW) has received a consensus rating of “Buy” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.70.

Several analysts recently issued reports on MTW shares. Seaport Global Securities raised Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Monday, November 20th. Zacks Investment Research raised Manitowoc from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Monday, September 11th. Citigroup lifted their target price on Manitowoc from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 13th. Robert W. Baird reissued a “buy” rating and set a $47.00 target price on shares of Manitowoc in a research note on Friday, November 24th. Finally, Deutsche Bank reissued a “hold” rating and set a $32.28 target price (up previously from $31.40) on shares of Manitowoc in a research note on Monday, October 9th.

Manitowoc (NYSE:MTW) traded down $0.09 during midday trading on Tuesday, hitting $39.34. The stock had a trading volume of 507,737 shares, compared to its average volume of 420,684. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc has a 1 year low of $21.00 and a 1 year high of $42.12. The company has a market capitalization of $1,380.00, a P/E ratio of -28.72 and a beta of 1.56.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.44. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm had revenue of $399.40 million for the quarter, compared to the consensus estimate of $385.01 million. During the same quarter last year, the company earned ($1.12) earnings per share. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. analysts forecast that Manitowoc will post -0.19 EPS for the current fiscal year.

In other news, Director Charles David Myers purchased 3,854 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Cipher Capital LP purchased a new position in Manitowoc during the 3rd quarter valued at approximately $109,000. BNP Paribas Arbitrage SA grew its holdings in Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after buying an additional 16,065 shares in the last quarter. Invictus RG purchased a new position in Manitowoc during the 3rd quarter valued at approximately $124,000. Advisor Group Inc. grew its holdings in Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after buying an additional 572 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after buying an additional 3,733 shares in the last quarter.

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About Manitowoc

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.

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