Manitowoc Company Inc (MTW) Receives $30.78 Consensus Target Price from Brokerages

Shares of Manitowoc Company Inc (NYSE:MTW) have been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.25.

A number of brokerages recently weighed in on MTW. ValuEngine raised shares of Manitowoc from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research raised shares of Manitowoc from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, January 2nd.

Shares of MTW stock traded up $0.42 during trading hours on Tuesday, hitting $19.03. 635,577 shares of the company’s stock traded hands, compared to its average volume of 494,969. The company has a market capitalization of $651.33 million, a P/E ratio of 29.73 and a beta of 1.88. Manitowoc has a 12 month low of $13.22 and a 12 month high of $29.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 1.70.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.11. The firm had revenue of $515.30 million during the quarter, compared to the consensus estimate of $488.02 million. Manitowoc had a negative net margin of 3.63% and a positive return on equity of 3.55%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts forecast that Manitowoc will post 1.31 earnings per share for the current fiscal year.

In related news, EVP Aaron H. Ravenscroft sold 3,191 shares of Manitowoc stock in a transaction on Friday, March 29th. The shares were sold at an average price of $16.48, for a total transaction of $52,587.68. Following the completion of the transaction, the executive vice president now owns 20,697 shares of the company’s stock, valued at $341,086.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Barry Pennypacker sold 12,388 shares of Manitowoc stock in a transaction on Friday, March 29th. The stock was sold at an average price of $16.46, for a total transaction of $203,906.48. Following the transaction, the chief executive officer now directly owns 136,862 shares of the company’s stock, valued at approximately $2,252,748.52. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MTW. Nisa Investment Advisors LLC grew its holdings in Manitowoc by 12.9% in the first quarter. Nisa Investment Advisors LLC now owns 8,725 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,000 shares during the period. Geode Capital Management LLC grew its holdings in Manitowoc by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 376,811 shares of the industrial products company’s stock worth $5,565,000 after purchasing an additional 21,106 shares during the period. Norges Bank acquired a new stake in Manitowoc in the fourth quarter worth $389,000. Dimensional Fund Advisors LP grew its holdings in Manitowoc by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,891,463 shares of the industrial products company’s stock worth $42,707,000 after purchasing an additional 304,977 shares during the period. Finally, Legal & General Group Plc grew its holdings in Manitowoc by 12.1% in the fourth quarter. Legal & General Group Plc now owns 14,095 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,520 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

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.

See Also: How does a reverse stock split work?

Analyst Recommendations for Manitowoc (NYSE:MTW)

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.