Manitowoc (NYSE:MTW) PT Lowered to $14.50 at UBS Group

Manitowoc (NYSE:MTW) had its price target trimmed by UBS Group from $18.00 to $14.50 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the company. Barclays reduced their price target on Manitowoc from $15.00 to $12.00 and set an underweight rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company lowered their price target on Manitowoc from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Friday, February 16th. StockNews.com cut shares of Manitowoc from a buy rating to a hold rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Manitowoc from $17.00 to $15.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $16.50.

Manitowoc Trading Down 3.3 %

Shares of NYSE MTW opened at $10.90 on Wednesday. The business has a 50 day simple moving average of $12.49 and a 200 day simple moving average of $14.15. Manitowoc has a 52 week low of $10.71 and a 52 week high of $19.81. The stock has a market cap of $387.40 million, a price-to-earnings ratio of 14.53 and a beta of 1.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.59 and a current ratio of 1.77.

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

Institutional Trading of Manitowoc

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in 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 buying an additional 79,213 shares in the last quarter. Invesco Ltd. increased its position in shares of Manitowoc by 0.9% during the third quarter. Invesco Ltd. now owns 1,107,733 shares of the industrial products company’s stock valued at $16,671,000 after purchasing an additional 10,177 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Manitowoc by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 773,565 shares of the industrial products company’s stock valued at $12,911,000 after purchasing an additional 46,417 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Manitowoc by 1,292.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 516,774 shares of the industrial products company’s stock worth $8,625,000 after purchasing an additional 479,662 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Manitowoc by 4.3% in the first quarter. Acadian Asset Management LLC now owns 436,606 shares of the industrial products company’s stock worth $6,172,000 after purchasing an additional 18,181 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

About Manitowoc

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.