Manitowoc (NYSE:MTW – Get Free Report) had its price target boosted by investment analysts at Robert W. Baird from $17.00 to $22.00 in a research report issued to clients and investors on Tuesday, FlyOnTheWall reports. Robert W. Baird’s target price indicates a potential upside of 33.82% from the company’s previous close.
A number of other research firms also recently weighed in on MTW. Wells Fargo & Company upgraded Manitowoc from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $14.00 to $17.00 in a research note on Monday, May 1st. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research note on Sunday, May 21st. Barclays raised their price target on Manitowoc from $9.00 to $15.00 in a research note on Thursday, May 4th. Finally, Citigroup raised their price target on Manitowoc from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Manitowoc presently has a consensus rating of “Hold” and a consensus price target of $16.00.
Read Our Latest Stock Analysis on MTW
Manitowoc Stock Down 5.8 %
Manitowoc (NYSE:MTW – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.50. The business had revenue of $602.80 million during the quarter, compared to the consensus estimate of $525.00 million. Manitowoc had a positive return on equity of 12.63% and a negative net margin of 4.80%. Manitowoc’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, sell-side analysts expect that Manitowoc will post 1.12 EPS for the current fiscal year.
Institutional Trading of Manitowoc
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Manitowoc by 2.1% in the first quarter. BlackRock Inc. now owns 4,125,640 shares of the industrial products company’s stock valued at $70,507,000 after buying an additional 84,143 shares during the last quarter. Front Street Capital Management Inc. lifted its holdings in Manitowoc by 4.8% during the 4th quarter. Front Street Capital Management Inc. now owns 2,604,446 shares of the industrial products company’s stock worth $23,857,000 after purchasing an additional 120,169 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Manitowoc by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the industrial products company’s stock worth $41,008,000 after purchasing an additional 138,602 shares during the last quarter. Invesco Ltd. lifted its holdings in Manitowoc by 14.5% during the 1st quarter. Invesco Ltd. now owns 2,227,321 shares of the industrial products company’s stock worth $33,588,000 after purchasing an additional 281,654 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Manitowoc by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,936 shares of the industrial products company’s stock worth $14,903,000 after purchasing an additional 126,037 shares during the last quarter. 78.68% of the stock is 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, 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.
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