Manitowoc (NYSE:MTW) Price Target Cut to $9.00 by Analysts at UBS Group

Manitowoc (NYSE:MTW) had its price objective lowered by stock analysts at UBS Group from $13.00 to $9.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. UBS Group’s target price indicates a potential upside of 20.27% from the stock’s current price.

Manitowoc Stock Performance

Shares of MTW traded down $0.35 during mid-day trading on Monday, reaching $7.48. 303,071 shares of the company’s stock were exchanged, compared to its average volume of 281,022. The business’s fifty day simple moving average is $9.86 and its 200-day simple moving average is $9.75. The stock has a market capitalization of $262.91 million, a PE ratio of 4.83 and a beta of 1.79. Manitowoc has a 52-week low of $7.21 and a 52-week high of $13.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a return on equity of 2.46% and a net margin of 2.56%. On average, equities research analysts expect that Manitowoc will post 0.5 earnings per share for the current year.

Institutional Trading of Manitowoc

Institutional investors have recently modified their holdings of the business. LPL Financial LLC boosted its position in shares of Manitowoc by 10.0% during the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 1,030 shares in the last quarter. Northern Trust Corp boosted its holdings in Manitowoc by 0.5% during the fourth quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company’s stock worth $2,779,000 after buying an additional 1,552 shares in the last quarter. Quantbot Technologies LP grew its position in Manitowoc by 20.9% during the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock worth $94,000 after buying an additional 1,771 shares during the period. SG Americas Securities LLC lifted its position in shares of Manitowoc by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 1,944 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Manitowoc by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 794,335 shares of the industrial products company’s stock worth $7,643,000 after acquiring an additional 2,224 shares in the last quarter. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

Manitowoc Company Profile

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.