Manitowoc Company, Inc. (The) (MTW) Lifted to Buy at Zacks Investment Research

Manitowoc Company, Inc. (The) (NYSE:MTW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $9.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.64% from the stock’s current price.

According to Zacks, “Manitowoc's second-quarter orders are pegged at $379.5 million, up 9% year over year despite challenging end markets. The company noted few sections of growth in specific markets within North America and European markets continue to grow at a modest pace, underscored by residential and nonresidential project activity.This bodes well for performance in the third quarter of 2017. Manitowoc's estimates have undergone positive revisions lately. The company will also gain from its focus on consolidating manufacturing footprint and reducing cost of organizational structure. Manitowoc is making significant progress in the implementation of The Manitowoc Way to drive four key strategic priorities – margin expansion, growth, innovation and velocity that will aid it deliver double-digit margin growth in the long term. The company has also outperformed the industry in the past year.”

Other equities analysts have also issued research reports about the company. Jefferies Group LLC restated a “buy” rating and set a $9.50 price target (up previously from $8.00) on shares of Manitowoc Company, Inc. (The) in a research note on Wednesday, August 9th. BidaskClub upgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. TheStreet upgraded Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Deutsche Bank AG restated a “hold” rating and set a $6.25 price target on shares of Manitowoc Company, Inc. (The) in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $6.50 price target on shares of Manitowoc Company, Inc. (The) in a research note on Thursday, June 22nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Manitowoc Company, Inc. (The) currently has a consensus rating of “Hold” and a consensus price target of $7.35.

Shares of Manitowoc Company, Inc. (NYSE MTW) opened at 7.99 on Monday. The stock’s market capitalization is $1.12 billion. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $8.43. The stock has a 50 day moving average of $7.33 and a 200-day moving average of $6.25.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million for the quarter, compared to analyst estimates of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts predict that Manitowoc Company, Inc. will post ($0.14) EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of MTW. Annex Advisory Services LLC boosted its holdings in Manitowoc Company, Inc. (The) by 22.3% in the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 3,158 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Manitowoc Company, Inc. (The) by 646.0% in the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 16,065 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Manitowoc Company, Inc. (The) by 704.5% in the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 20,056 shares in the last quarter. Leavell Investment Management Inc. boosted its holdings in Manitowoc Company, Inc. (The) by 9.4% in the second quarter. Leavell Investment Management Inc. now owns 23,405 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Advisor Group Inc. boosted its holdings in Manitowoc Company, Inc. (The) by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 572 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

Manitowoc Company, Inc. (The) Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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