Manitowoc (NYSE:MTW) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, ValuEngine reports.

Several other research firms have also weighed in on MTW. Robert W. Baird lowered Manitowoc from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Monday, August 12th. Zacks Investment Research lowered Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Tuesday, August 13th. Barclays reaffirmed a “buy” rating and issued a $15.00 target price on shares of Manitowoc in a research report on Wednesday, October 16th. Citigroup lowered Manitowoc from a “neutral” rating to a “sell” rating and decreased their target price for the company from $16.00 to $10.00 in a research report on Tuesday, October 15th. Finally, OTR Global lowered Manitowoc from a “mixed” rating to a “negative” rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $16.50.

MTW traded up $2.29 during midday trading on Friday, hitting $16.21. 2,049,000 shares of the company were exchanged, compared to its average volume of 422,777. The firm has a market capitalization of $501.58 million, a P/E ratio of 25.33, a P/E/G ratio of 0.84 and a beta of 2.16. Manitowoc has a 1-year low of $10.49 and a 1-year high of $20.09. The firm’s 50 day moving average price is $12.39 and its 200-day moving average price is $14.99. The company has a quick ratio of 0.70, a current ratio of 1.78 and a debt-to-equity ratio of 0.56.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. Manitowoc had a positive return on equity of 7.97% and a negative net margin of 2.52%. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that Manitowoc will post 1.7 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Manitowoc by 513.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock worth $63,000 after buying an additional 4,193 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Manitowoc by 56.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 171,750 shares of the industrial products company’s stock worth $2,147,000 after buying an additional 62,300 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Manitowoc by 13.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 73,805 shares of the industrial products company’s stock worth $922,000 after buying an additional 9,000 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Manitowoc by 19.6% in the 3rd quarter. California Public Employees Retirement System now owns 64,663 shares of the industrial products company’s stock worth $808,000 after buying an additional 10,606 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Manitowoc by 8.4% in the 3rd quarter. Rhumbline Advisers now owns 61,039 shares of the industrial products company’s stock worth $763,000 after buying an additional 4,722 shares during the last quarter. Hedge funds and other institutional investors own 78.87% 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.

Featured Story: What member countries make up the G-20?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Manitowoc (NYSE:MTW)

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.