Manitowoc (NYSE:MTW) Price Target Cut to $15.00

Manitowoc (NYSE:MTW) had its price objective cut by JPMorgan Chase & Co. from $17.00 to $15.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company reduced their price target on Manitowoc from $17.00 to $16.00 and set an equal weight rating for the company in a research note on Friday, February 16th. StockNews.com downgraded Manitowoc from a buy rating to a hold rating in a research note on Thursday, February 22nd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $17.33.

Manitowoc Stock Down 0.6 %

MTW stock opened at $12.83 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $455.21 million, a PE ratio of 11.77 and a beta of 2.04. Manitowoc has a 1-year low of $12.20 and a 1-year high of $19.81. The business’s 50 day simple moving average is $13.74 and its 200 day simple moving average is $14.60.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14). The firm had revenue of $595.80 million during the quarter, compared to the consensus estimate of $583.90 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, research analysts anticipate that Manitowoc will post 1.29 EPS for the current year.

Institutional Trading of Manitowoc

A number of institutional investors have recently modified their holdings of MTW. Tower Research Capital LLC TRC lifted its position in shares of Manitowoc by 104.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 1,681 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Manitowoc during the 3rd quarter valued at $38,000. UBS Group AG lifted its position in shares of Manitowoc by 165.6% during the 3rd quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 3,696 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Manitowoc by 150.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,000 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 1,800 shares during the period. Finally, US Bancorp DE lifted its position in shares of Manitowoc by 43.6% during the 1st quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,146 shares during the last quarter. 78.66% of the stock is currently owned by institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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.