Manitowoc Company, Inc. (The) (MTW) Trading Down 8.2%

Manitowoc Company, Inc. (The) (NYSE:MTW) was down 8.2% during trading on Monday . The stock traded as low as $9.09 and last traded at $9.12. Approximately 2,637,380 shares traded hands during trading, an increase of 49% from the average daily volume of 1,764,260 shares. The stock had previously closed at $9.93.

Several equities research analysts recently commented on MTW shares. Zacks Investment Research upgraded shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Monday, September 11th. BidaskClub downgraded shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $8.00 price target on shares of Manitowoc Company, Inc. (The) in a research report on Friday, June 16th. Deutsche Bank AG restated a “hold” rating and issued a $6.25 price target on shares of Manitowoc Company, Inc. (The) in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $6.50 price target on shares of Manitowoc Company, Inc. (The) in a research report on Thursday, June 22nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.46.

The company’s market cap is $1.31 billion. The firm has a 50-day moving average price of $8.40 and a 200 day moving average price of $6.66.

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

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Manitowoc Company, Inc. (The) by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock worth $63,834,000 after purchasing an additional 471,356 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Manitowoc Company, Inc. (The) by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock worth $51,970,000 after purchasing an additional 1,499,384 shares during the last quarter. Southpoint Capital Advisors LP boosted its position in Manitowoc Company, Inc. (The) by 29.2% in the second quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after purchasing an additional 1,750,000 shares during the last quarter. Franklin Resources Inc. boosted its position in Manitowoc Company, Inc. (The) by 14.2% in the second quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock worth $21,331,000 after purchasing an additional 440,000 shares during the last quarter. Finally, State Street Corp boosted its position in Manitowoc Company, Inc. (The) by 6.4% in the second quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after purchasing an additional 150,097 shares during the last quarter. 80.98% of the stock is currently owned by institutional investors and hedge funds.

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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.

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