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Manitowoc (NYSE:MTW - Get Rating) had its price target hoisted by analysts at Citigroup to $12.00 in a report released on Monday, Stock Target Advisor reports. Citigroup's price target indicates a potential upside of 8.50% from the company's previous close.

Several other brokerages have also recently issued reports on MTW. Wells Fargo & Company cut their target price on Manitowoc from $13.00 to $12.00 and set an "underweight" rating on the stock in a research report on Monday, August 8th. Credit Suisse Group set a $12.00 price objective on Manitowoc in a research report on Tuesday, July 19th. UBS Group cut their price objective on Manitowoc from $19.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, July 21st. Robert W. Baird cut their price objective on Manitowoc from $16.00 to $15.00 in a research report on Wednesday, May 4th. Finally, JPMorgan Chase & Co. cut their price objective on Manitowoc from $14.50 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, Manitowoc currently has an average rating of "Hold" and a consensus price target of $13.07.Manitowoc Stock Down 1.4 %

Shares of NYSE:MTW traded down $0.16 during mid-day trading on Monday, hitting $11.06. 1,045,450 shares of the company traded hands, compared to its average volume of 294,069. The stock has a market cap of $389.07 million, a P/E ratio of 27.65 and a beta of 2.06. The company has a current ratio of 1.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. Manitowoc has a 12-month low of $9.83 and a 12-month high of $26.40. The stock has a 50-day moving average price of $11.04 and a two-hundred day moving average price of $13.46.

Manitowoc (NYSE:MTW - Get Rating) last announced its earnings results on Thursday, August 4th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.15). The company had revenue of $497.20 million for the quarter, compared to analysts' expectations of $553.68 million. Manitowoc had a net margin of 0.77% and a return on equity of 3.05%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities research analysts forecast that Manitowoc will post 0.67 earnings per share for the current year. Insider Activity

In other news, Director Kenneth W. Krueger purchased 34,500 shares of the company's stock in a transaction dated Friday, June 10th. The shares were purchased at an average price of $12.49 per share, with a total value of $430,905.00. Following the transaction, the director now directly owns 123,472 shares of the company's stock, valued at $1,542,165.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 5th. The shares were bought at an average cost of $11.30 per share, for a total transaction of $33,900.00. Following the purchase, the chief executive officer now owns 211,951 shares in the company, valued at approximately $2,395,046.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth W. Krueger acquired 34,500 shares of the firm's stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average price of $12.49 per share, for a total transaction of $430,905.00. Following the completion of the purchase, the director now owns 123,472 shares in the company, valued at approximately $1,542,165.28. The disclosure for this purchase can be found here. Insiders have bought 39,619 shares of company stock valued at $488,559 in the last 90 days. Insiders own 2.52% of the company's stock. Institutional Trading of Manitowoc

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Manitowoc by 166.0% during the 2nd quarter. AQR Capital Management LLC now owns 279,141 shares of the industrial products company's stock valued at $2,939,000 after purchasing an additional 174,207 shares during the period. Mutual Advisors LLC increased its stake in Manitowoc by 125.4% in the 2nd quarter. Mutual Advisors LLC now owns 46,740 shares of the industrial products company's stock worth $492,000 after acquiring an additional 26,000 shares during the last quarter. State Street Corp increased its stake in Manitowoc by 0.4% in the 2nd quarter. State Street Corp now owns 705,516 shares of the industrial products company's stock worth $7,429,000 after acquiring an additional 2,570 shares during the last quarter. Millennium Management LLC increased its stake in Manitowoc by 2,304.0% in the 2nd quarter. Millennium Management LLC now owns 422,527 shares of the industrial products company's stock worth $4,449,000 after acquiring an additional 404,951 shares during the last quarter. Finally, Towle & Co increased its stake in Manitowoc by 125.5% in the 2nd quarter. Towle & Co now owns 1,621,615 shares of the industrial products company's stock worth $17,076,000 after acquiring an additional 902,423 shares during the last quarter. 76.36% of the stock is currently owned by institutional investors. About Manitowoc (Get Rating)

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.Featured ArticlesGet a free copy of the StockNews.com research report on Manitowoc (MTW)The Five Hottest Calls From The Q2 Earnings Season Here is a Simple 4 Stock Portfolio that Can Outperform the MarketIs AMC Entertainment Pulling a Fast One on the APEs?Here’s How the Inflation Reduction Act Energizes Power StockThe Institutions Trim Holdings Of High-Yielding Foot Locker, Inc

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