The stock of Manitowoc Company Inc (NYSE:MTW) is a huge mover today! About 3.45 million shares traded hands or 99.42% up from the average. Manitowoc Company Inc (NYSE:MTW) has risen 9.24% since April 13, 2016 and is uptrending. It has outperformed by 5.32% the S&P500.
The move comes after 8 months negative chart setup for the $708.86 million company. It was reported on Nov, 15 by Barchart.com. We have $4.76 PT which if reached, will make NYSE:MTW worth $35.44 million less.
Manitowoc Company Inc (NYSE:MTW) Ratings Coverage
Out of 16 analysts covering Manitowoc Company (NYSE:MTW), 3 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 19% are positive. Manitowoc Company has been the topic of 33 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Monday, July 27 by Goldman Sachs. As per Wednesday, October 12, the company rating was maintained by Barclays Capital. The rating was maintained by RBC Capital Markets on Thursday, October 15 with “Sector Perform”. The rating was initiated by Barclays Capital on Friday, September 25 with “Equal-Weight”. Morgan Stanley downgraded Manitowoc Company Inc (NYSE:MTW) on Wednesday, October 21 to “Equal-Weight” rating. Citigroup maintained Manitowoc Company Inc (NYSE:MTW) on Wednesday, August 10 with “Neutral” rating. The rating was maintained by Citigroup on Thursday, March 31 with “Neutral”. The firm earned “Hold” rating on Friday, July 31 by Deutsche Bank. As per Wednesday, October 12, the company rating was maintained by Deutsche Bank. The firm has “Buy” rating given on Wednesday, April 20 by Stifel Nicolaus.
According to Zacks Investment Research, “Manitowoc Company, Inc. is a diversified, capital goods manufacturer. They are principally engaged in: a) the design and manufacture of commercial ice machines, ice/beverage dispensers and refrigeration products for the foodservice, lodging, convenience store, healthcare and the soft-drink bottling and dispensing industries; (b) the design and manufacture of cranes and related products which are used by the energy, construction, mining and other industries; and (c) ship-repair, conversion, and new construction services for the maritime industry.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.47, from 1.45 in 2016Q1. The ratio is negative, as 38 funds sold all Manitowoc Company Inc shares owned while 57 reduced positions. 35 funds bought stakes while 58 increased positions. They now own 103.94 million shares or 4.71% less from 109.08 million shares in 2016Q1.
Harris Assoc Limited Partnership last reported 0.07% of its portfolio in the stock. State Street Corporation accumulated 2.35M shares or 0% of the stock. Cetera Advisor Net Limited Liability Company has 11,294 shares for 0% of their US portfolio. Us Financial Bank De accumulated 65,706 shares or 0% of the stock. Sandy Spring National Bank has 0% invested in the company for 2,282 shares. First Fin In has 0% invested in the company for 1,348 shares. Royal Commercial Bank Of Canada has 0% invested in the company for 96,658 shares. Creative Planning, a Kansas-based fund reported 5,169 shares. Northern Trust Corporation has invested 0% of its portfolio in Manitowoc Company Inc (NYSE:MTW). Moreover, Gsa Ptnrs Llp has 0.01% invested in Manitowoc Company Inc (NYSE:MTW) for 38,903 shares. Secor Cap Advsrs Ltd Partnership accumulated 152,971 shares or 0.1% of the stock. Boothbay Fund Mgmt Lc, a New York-based fund reported 21,749 shares. Landscape Cap Limited Liability accumulated 159,800 shares or 0.12% of the stock. Highbridge Management Ltd Limited Liability Company holds 52,402 shares or 0% of its portfolio. Credit Suisse Ag holds 1.17 million shares or 0.01% of its portfolio.
Another recent and important Manitowoc Company Inc (NYSE:MTW) news was published by Nasdaq.com which published an article titled: “Earnings Reaction History: Manitowoc Company, Inc., 50.0% Follow-Through …” on November 01, 2016.
MTW Company Profile
The Manitowoc Company, Inc. (MTW), incorporated on July 15, 1920, is a multi-industry, capital goods manufacturer. The Firm operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a well-known 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 maker of commercial foodservice equipment serving the ice, beverage, refrigeration, food-preparation, holding and cooking needs of restaurants, convenience stores, hotels, healthcare and institutional applications. The Company’s Crane products are principally marketed under the Manitowoc, Grove, Potain, National Crane, Shuttlelift and Manitowoc Crane Care brand names. The Company’s Foodservice products, services and solutions are marketed under brands, including Cleveland, Convotherm, Dean, Delfield, Fabristeel, Frymaster, Garland, Inducs, Kolpak, Koolaire, Lincoln, Manitowoc Beverage Systems, Manitowoc Ice, Merco, Merrychef, Moorwood Vulcan, Multiplex, RDI Systems, Servend, TRUpour, U.S. Range and Welbilt, and are supported by Manitowoc KitchenCare.
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