Posted by admin on May 12th, 2022

Manitowoc (NYSE:MTW – Get Rating) had its target price reduced by investment analysts at Citigroup from $18.50 to $12.50 in a report released on Thursday, The Fly reports. Citigroup’s target price points to a potential upside of 12.11% from the stock’s current price.

MTW has been the subject of a number of other reports. Robert W. Baird decreased their price objective on Manitowoc from $16.00 to $15.00 in a research report on Wednesday, May 4th. JPMorgan Chase & Co. reduced their price objective on Manitowoc from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, March 28th. Zacks Investment Research downgraded Manitowoc from a “hold” rating to a “strong sell” rating and set a $11.00 price target for the company. in a research report on Monday. StockNews.com started coverage on Manitowoc in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company started coverage on Manitowoc in a research report on Friday, March 11th. They issued an “underweight” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.14.

MTW opened at $11.15 on Thursday. The stock’s 50-day moving average price is $14.41 and its 200 day moving average price is $17.46. Manitowoc has a 12-month low of $11.02 and a 12-month high of $27.57. The company has a current ratio of 1.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.60. The firm has a market cap of $393.81 million, a price-to-earnings ratio of 23.23 and a beta of 2.11.

Manitowoc (NYSE:MTW – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Manitowoc had a net margin of 0.94% and a return on equity of 5.15%. The business had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $440.08 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue was up 29.6% compared to the same quarter last year. On average, research analysts forecast that Manitowoc will post 0.87 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Manitowoc during the fourth quarter worth $25,000. Lazard Asset Management LLC purchased a new position in shares of Manitowoc during the fourth quarter valued at $41,000. New York State Teachers Retirement System purchased a new position in Manitowoc in the first quarter valued at about $45,000. US Bancorp DE grew its stake in Manitowoc by 43.6% in the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,146 shares in the last quarter. Finally, KBC Group NV grew its stake in Manitowoc by 24.3% in the first quarter. KBC Group NV now owns 6,247 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,223 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors.

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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