Manitowoc Company (The) (MTW) : Analyst Rating Update

Manitowoc Company (The) (MTW) : The consensus on Manitowoc Company (The) (MTW) based on 9 analyst recommendation on the company stock is 2.33, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Manitowoc Company (The) (MTW) : The highest level Manitowoc Company (The) (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.

Manitowoc Company (The) (NYSE:MTW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.08 and $4.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.14, notching a gain of 0.78% for the day. The total traded volume was 4,997,563 . The stock had closed at $5.10 on the previous day.

Also, Brokerage firm Citigroup maintains its rating on Manitowoc Company (The) (NYSE:MTW). As per the latest information, the brokerage house raises the price target to $6 per share from a prior target of $4.5. The shares have been rated Neutral. The rating by the firm was issued on May 13, 2016. The company shares have dropped -72.19% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $19.17 and the one year low was seen on Mar 8, 2016. The 50-Day Moving Average price is $5.61 and the 200 Day Moving Average price is recorded at $8.72.

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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