Manitowoc Company Inc (NYSE:MTW)’s share price fell 9.4% on Tuesday . The stock traded as low as $17.22 and last traded at $17.26. 691,668 shares traded hands during trading, an increase of 27% from the average session volume of 546,549 shares. The stock had previously closed at $19.05.

Several research firms have weighed in on MTW. TheStreet cut Manitowoc from a “c” rating to a “d+” rating in a research note on Monday, November 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 target price on shares of Manitowoc in a research note on Sunday, August 12th. Seaport Global Securities set a $31.00 target price on Manitowoc and gave the company a “buy” rating in a research note on Wednesday, August 8th. Royal Bank of Canada lowered their target price on Manitowoc to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th. They noted that the move was a valuation call. Finally, Citigroup lowered their target price on Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.50.

The firm has a market cap of $702.82 million, a PE ratio of -66.38 and a beta of 1.63. The company has a quick ratio of 0.69, a current ratio of 1.75 and a debt-to-equity ratio of 0.39.

Manitowoc (NYSE:MTW) last posted its earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.12. Manitowoc had a return on equity of 1.80% and a net margin of 2.56%. The firm had revenue of $450.10 million during the quarter, compared to analyst estimates of $452.64 million. During the same period in the previous year, the company earned $0.37 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts expect that Manitowoc Company Inc will post 0.56 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Manitowoc by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,155,597 shares of the industrial products company’s stock worth $75,703,000 after purchasing an additional 42,801 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Manitowoc by 9.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,586,486 shares of the industrial products company’s stock worth $62,050,000 after purchasing an additional 227,048 shares during the last quarter. BlackRock Inc. lifted its holdings in Manitowoc by 8.8% in the 2nd quarter. BlackRock Inc. now owns 2,459,641 shares of the industrial products company’s stock worth $63,605,000 after purchasing an additional 197,928 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Manitowoc by 72.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,667,174 shares of the industrial products company’s stock worth $39,996,000 after purchasing an additional 699,680 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its holdings in Manitowoc by 46.8% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 661,424 shares of the industrial products company’s stock worth $17,104,000 after purchasing an additional 210,827 shares during the last quarter. Hedge funds and other institutional investors own 82.75% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Manitowoc (MTW) Trading Down 9.4%” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.watchlistnews.com/manitowoc-mtw-trading-down-9-4/2663090.html.

Manitowoc Company Profile (NYSE:MTW)

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.

Recommended Story: 52-Week High/Low

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.