Robert W. Baird upgraded shares of Manitowoc (NYSE:MTW) from a neutral rating to an outperform rating in a report issued on Thursday morning, Marketbeat.com reports. Robert W. Baird currently has $32.00 price objective on the industrial products company’s stock.

Several other analysts have also recently issued reports on MTW. JPMorgan Chase & Co. upgraded Manitowoc from an underweight rating to a neutral rating and set a $27.00 price objective on the stock in a research note on Thursday, June 21st. OTR Global cut Manitowoc to a positive rating in a research note on Tuesday, June 5th. Seaport Global Securities set a $31.00 price objective on Manitowoc and gave the company a buy rating in a research note on Wednesday, August 8th. ValuEngine cut Manitowoc from a hold rating to a sell rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research upgraded Manitowoc from a hold rating to a strong-buy rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $31.77.

MTW opened at $25.85 on Thursday. Manitowoc has a 52 week low of $21.18 and a 52 week high of $44.03. The firm has a market cap of $918.61 million, a PE ratio of -99.42 and a beta of 1.33. The company has a quick ratio of 0.73, a current ratio of 1.65 and a debt-to-equity ratio of 0.40.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. The business had revenue of $495.30 million for the quarter, compared to analysts’ expectations of $458.03 million. Manitowoc had a return on equity of 2.77% and a net margin of 2.53%. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. equities research analysts predict that Manitowoc will post 0.53 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of MTW. JPMorgan Chase & Co. raised its stake in Manitowoc by 1,353.6% in the first quarter. JPMorgan Chase & Co. now owns 257,136 shares of the industrial products company’s stock valued at $7,318,000 after buying an additional 239,446 shares in the last quarter. Rutabaga Capital Management LLC MA raised its stake in Manitowoc by 46.8% in the second quarter. Rutabaga Capital Management LLC MA now owns 661,424 shares of the industrial products company’s stock valued at $17,104,000 after buying an additional 210,827 shares in the last quarter. BlackRock Inc. raised its stake in Manitowoc by 8.8% in the second quarter. BlackRock Inc. now owns 2,459,641 shares of the industrial products company’s stock valued at $63,605,000 after buying an additional 197,928 shares in the last quarter. Harvest Capital Strategies LLC acquired a new stake in Manitowoc in the first quarter valued at $5,287,000. Finally, Victory Capital Management Inc. raised its stake in Manitowoc by 21.7% in the second quarter. Victory Capital Management Inc. now owns 967,494 shares of the industrial products company’s stock valued at $25,019,000 after buying an additional 172,730 shares in the last quarter. Institutional investors own 82.02% of the company’s stock.

About Manitowoc

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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