Manitowoc (NYSE:MTW) Stock Rating Lowered by StockNews.com

Manitowoc (NYSE:MTW) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other equities research analysts also recently weighed in on the stock. UBS Group cut their target price on shares of Manitowoc from $18.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of Manitowoc from $14.00 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday. Barclays cut their target price on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group cut their price objective on Manitowoc from $15.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, Manitowoc currently has an average rating of “Hold” and a consensus target price of $15.75.

Manitowoc Stock Down 0.2 %

NYSE:MTW traded down $0.02 during mid-day trading on Friday, hitting $10.99. 306,308 shares of the company’s stock traded hands, compared to its average volume of 266,779. Manitowoc has a twelve month low of $10.01 and a twelve month high of $19.81. The company has a fifty day moving average of $11.60 and a 200 day moving average of $13.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 1.77. The company has a market capitalization of $390.58 million, a P/E ratio of 14.65 and a beta of 1.91.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data 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). The firm had revenue of $495.10 million during the quarter, compared to analyst estimates of $496.93 million. Manitowoc had a return on equity of 7.33% and a net margin of 1.23%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. On average, analysts forecast that Manitowoc will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Manitowoc by 97.0% during the 2nd quarter. CWM LLC now owns 3,010 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 1,482 shares in the last quarter. AJOVista LLC acquired a new position in Manitowoc during the 4th quarter worth approximately $69,000. Inlet Private Wealth LLC purchased a new stake in shares of Manitowoc during the first quarter valued at approximately $141,000. Allspring Global Investments Holdings LLC increased its position in shares of Manitowoc by 183.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,505 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 7,441 shares during the last quarter. Finally, Boston Partners boosted its holdings in Manitowoc by 22.9% in the first quarter. Boston Partners now owns 15,422 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 2,874 shares during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

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.