Manitowoc (NYSE:MTW – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
MTW has been the subject of several other reports. Barclays lifted their price objective on shares of Manitowoc from $9.00 to $15.00 in a research note on Thursday. Wells Fargo & Company upgraded shares of Manitowoc from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $14.00 to $17.00 in a research note on Monday. Citigroup lifted their price objective on shares of Manitowoc from $11.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, March 6th. The Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating and raised their target price for the stock from $13.00 to $15.00 in a report on Monday, April 3rd. Finally, Robert W. Baird raised their target price on shares of Manitowoc from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.56.
Manitowoc Price Performance
Shares of MTW opened at $15.26 on Friday. The company has a market cap of $536.69 million, a price-to-earnings ratio of -4.84 and a beta of 2.04. Manitowoc has a twelve month low of $7.53 and a twelve month high of $20.20. The company has a quick ratio of 0.71, a current ratio of 1.82 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $16.66 and a two-hundred day moving average of $12.83.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in Manitowoc by 104.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,681 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Manitowoc during the first quarter worth about $60,000. US Bancorp DE increased its stake in shares of Manitowoc by 43.6% during the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,146 shares in the last quarter. UBS Group AG increased its stake in shares of Manitowoc by 165.6% during the third quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 3,696 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Manitowoc during the first quarter worth about $106,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.
About Manitowoc
The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.
Further Reading
- Get a free copy of the StockNews.com research report on Manitowoc (MTW)
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