Royal Bank of Canada reaffirmed their hold rating on shares of Manitowoc (NYSE:MTW) in a research note released on Monday morning, AnalystRatings.com reports.

MTW has been the topic of several other reports. Goldman Sachs Group downgraded shares of Manitowoc from a buy rating to a neutral rating and decreased their price objective for the company from $12.00 to $11.00 in a research report on Monday, April 20th. TheStreet upgraded shares of Manitowoc from a d+ rating to a c- rating in a research report on Friday, June 26th. Jefferies Financial Group restated a buy rating and set a $20.00 price objective on shares of Manitowoc in a research report on Monday. Citigroup raised their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a neutral rating in a research note on Thursday, June 18th. Finally, Credit Suisse Group reaffirmed a hold rating and set a $10.00 target price on shares of Manitowoc in a research note on Friday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $14.13.

Shares of MTW stock opened at $10.46 on Monday. The company has a market capitalization of $370.05 million, a price-to-earnings ratio of 58.11 and a beta of 1.98. Manitowoc has a one year low of $7.24 and a one year high of $17.78. The company’s fifty day moving average price is $10.77 and its 200-day moving average price is $10.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.91 and a quick ratio of 0.70.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.06. The firm had revenue of $328.30 million for the quarter, compared to the consensus estimate of $271.42 million. Manitowoc had a net margin of 0.43% and a return on equity of 1.48%. Equities research analysts expect that Manitowoc will post -0.73 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MTW. Towle & Co. purchased a new position in shares of Manitowoc in the 1st quarter worth $13,095,000. Brandes Investment Partners LP purchased a new position in shares of Manitowoc in the 2nd quarter worth $5,406,000. Morgan Stanley grew its stake in shares of Manitowoc by 214.2% in the 1st quarter. Morgan Stanley now owns 337,959 shares of the industrial products company’s stock worth $2,872,000 after buying an additional 230,386 shares in the last quarter. State Street Corp grew its stake in shares of Manitowoc by 19.5% in the 1st quarter. State Street Corp now owns 841,263 shares of the industrial products company’s stock worth $7,151,000 after buying an additional 137,417 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Manitowoc in the 1st quarter worth $1,035,000. 75.43% of the stock is owned by institutional investors and hedge funds.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Analyst Recommendations for Manitowoc (NYSE:MTW)

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