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Shares of The Manitowoc Company, Inc. (NYSE:MTW - Get Rating) have been assigned an average recommendation of "Hold" from the eight ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.07.
MTW has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of Manitowoc to $12.00 in a report on Monday, August 15th. JPMorgan Chase & Co. decreased their target price on shares of Manitowoc from $14.50 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, July 12th. Wells Fargo & Company decreased their target price on shares of Manitowoc from $13.00 to $12.00 and set an "underweight" rating for the company in a research note on Monday, August 8th. Credit Suisse Group set a $12.00 target price on shares of Manitowoc in a research note on Tuesday, July 19th. Finally, UBS Group decreased their target price on shares of Manitowoc from $19.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st.Insider Activity
In other Manitowoc news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was purchased at an average price of $9.92 per share, with a total value of $29,760.00. Following the transaction, the chief executive officer now directly owns 214,951 shares in the company, valued at approximately $2,132,313.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired a total of 10,119 shares of company stock valued at $106,954 in the last 90 days. Company insiders own 2.52% of the company's stock. Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in Manitowoc in the 2nd quarter worth $859,000. Prelude Capital Management LLC purchased a new stake in Manitowoc in the 2nd quarter worth $110,000. Goldman Sachs Group Inc. increased its stake in Manitowoc by 105.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 131,089 shares of the industrial products company's stock worth $1,380,000 after buying an additional 67,288 shares in the last quarter. Jane Street Group LLC increased its stake in Manitowoc by 28.6% in the 2nd quarter. Jane Street Group LLC now owns 23,021 shares of the industrial products company's stock worth $242,000 after buying an additional 5,123 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Manitowoc by 319.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 56,299 shares of the industrial products company's stock worth $593,000 after buying an additional 42,878 shares in the last quarter. Institutional investors own 75.77% of the company's stock. Manitowoc Price Performance
MTW stock opened at $8.93 on Monday. The firm has a 50 day moving average price of $10.42 and a 200-day moving average price of $12.20. Manitowoc has a 52-week low of $8.68 and a 52-week high of $23.26. The firm has a market capitalization of $314.14 million, a price-to-earnings ratio of 22.33 and a beta of 2.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.74.
Manitowoc (NYSE:MTW - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.15). Manitowoc had a return on equity of 3.05% and a net margin of 0.77%. The firm had revenue of $497.20 million during the quarter, compared to analysts' expectations of $553.68 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Manitowoc's revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that Manitowoc will post 0.5 EPS for the current fiscal year. About Manitowoc (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on Manitowoc (MTW)Kroger’s is Your One-Stop Consumer Staples StockAdobe Perfects the Art of the Faceplant for InvestorsTax Credits are the Incentives in the Inflation Reduction Act Stock Market: 3 Islands Of Strength In A Sea Of Red3 Banks Worth Considering For Q4
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