Manitowoc Company Inc (MTW) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 7 from a previous price target of $5 . Earlier the firm had a rating of “Neutral ” on the company shares. Seaport Global Securities advised their investors in a research report released on May 6, 2016.
Many Wall Street Analysts have commented on Manitowoc Company Inc. Stifel Upgraded Manitowoc Company Inc on Apr 20, 2016 to ” Buy”, Price Target of the shares are set at $6.Manitowoc Company Inc was Downgraded by Credit Suisse to ” Neutral” on Apr 4, 2016. Manitowoc Company Inc was Resumed by Citigroup to “Neutral” on Mar 31, 2016.
On the company’s financial health, Manitowoc Company Inc reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.20. The company had revenue of $934.80 million for the quarter, compared to analysts expectations of $932.15 million. The company’s revenue was down -9.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Manitowoc Company Inc closed down -0.01 points or -0.18% at $5.62 with 41,53,954 shares getting traded on Wednesday. Post opening the session at $5.63, the shares hit an intraday low of $5.46 and an intraday high of $5.705 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Feb 17, 2016, Lawrence Joseph Weyers (Senior Vice President) sold 1,472 shares at $15.20 per share price. According to the SEC, on Feb 17, 2016, Thomas G Musial (SVP HR and Administration) sold 4,941 shares at $15.23 per share price. On Feb 17, 2016, Carl J Laurino (SVP and CFO) sold 5,803 shares at $15.18 per share price, according to the Form-4 filing with the securities and exchange commission.
The Manitowoc Company Inc. (MTW) is a multi-industry capital goods manufacturer. The Company operates in two markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry including lattice-boom cranes tower cranes mobile telescopic cranes and boom trucks. Foodservice is a manufacturer of commercial foodservice equipment serving the ice beverage refrigeration food-preparation holding and cooking needs of restaurants convenience stores hotels healthcare and institutional applications. Its Crane products are marketed under the Manitowoc Grove Potain National Crane Shuttlelift and Manitowoc Crane Care brand names. Its Foodservice products services and solutions are marketed under Cleveland Convotherm Dean Delfield Fabristeel Frymaster Garland Inducs Koolaire Kolpak Kysor Panel Systems and U.S. Range Lincoln Manitowoc Ice and Merrychef among others.