Short Term Price Target on Manitowoc Company (The) (MTW)

Manitowoc Company (The) (NYSE:MTW) : The highest level Manitowoc Company (The) (NYSE:MTW) is projected to reach is $7 for the short term and the lowest estimate is at $5. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $6.07 and the possibility the share price can swing is $0.93.

The Manitowoc Company, Inc. has lost 5.87% in the last five trading days and dropped 5.71% in the last 4 weeks. The Manitowoc Company, Inc. is up 25% in the last 3-month period. Year-to-Date the stock performance stands at -64.5%. Also, Major Brokerage house, Citigroup maintains its ratings on Manitowoc Company (The) (NYSE:MTW). In the latest research report, Citigroup raises the target price from $4.5 per share to $6 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on May 13, 2016.

Manitowoc Company (The) (NYSE:MTW) : 3 brokerage houses believe that Manitowoc Company (The) (NYSE:MTW) is a Strong Buy at current levels. 6 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Manitowoc Company (The) (NYSE:MTW). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 9 Wall Street Analysts endorse the stock as a Buy with a rating of 2.33.

Manitowoc Company (The) (NYSE:MTW): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.28 and $5.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.45, notching a gain of 3.42% for the day. The total traded volume was 5,236,248 . The stock had closed at $5.27 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Weyers Lawrence Joseph, (Senior Vice President) of Manitowoc Co Inc, had unloaded 1,472 shares at an average price of $15.2 in a transaction dated on February 16, 2016. The total value of the transaction was worth $22,374.

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.

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