Manitowoc (NYSE:MTW) PT Lowered to $13.00 at The Goldman Sachs Group

Manitowoc (NYSE:MTW) had its price target trimmed by The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a sell rating on the industrial products company’s stock.

Several other brokerages also recently commented on MTW. UBS Group reduced their target price on shares of Manitowoc from $18.00 to $14.50 and set a neutral rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price objective on Manitowoc from $14.00 to $12.50 and set a neutral rating for the company in a report on Wednesday. Finally, Barclays lowered their target price on Manitowoc from $15.00 to $12.00 and set an underweight rating on the stock in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Manitowoc has a consensus rating of Hold and a consensus price target of $15.75.

Manitowoc Price Performance

Shares of NYSE MTW opened at $11.00 on Thursday. Manitowoc has a twelve month low of $10.01 and a twelve month high of $19.81. The company has a market cap of $390.94 million, a PE ratio of 14.67 and a beta of 1.91. The business’s 50 day moving average price is $11.60 and its two-hundred day moving average price is $13.46. The company has a quick ratio of 0.59, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Manitowoc had a net margin of 1.23% and a return on equity of 7.33%. The business had revenue of $495.10 million during the quarter, compared to the consensus estimate of $496.93 million. During the same quarter last year, the company posted $0.46 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. On average, analysts predict that Manitowoc will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently added to or reduced their stakes in MTW. New York State Common Retirement Fund raised its stake in shares of Manitowoc by 18.1% during the fourth quarter. New York State Common Retirement Fund now owns 17,657 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 2,702 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Manitowoc by 1,292.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after buying an additional 479,662 shares during the period. Hsbc Holdings PLC grew its position in shares of Manitowoc by 13.3% in the 4th quarter. Hsbc Holdings PLC now owns 60,223 shares of the industrial products company’s stock valued at $1,014,000 after buying an additional 7,051 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Manitowoc by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,207,491 shares of the industrial products company’s stock worth $33,223,000 after acquiring an additional 79,213 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Manitowoc by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 19,859 shares of the industrial products company’s stock valued at $331,000 after buying an additional 3,937 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

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.