Manitowoc Company Receives a Buy from Stifel Nicolaus

In a report released today, Stanley Elliott from Stifel Nicolaus maintained a Buy rating on Manitowoc Company (NYSE: MTW), with a price target of $38. The company’s shares closed yesterday at $24.40, close to its 52-week low of $21.24.

According to TipRanks.com, Elliott is a 5-star analyst with an average return of 17.0% and a 70.2% success rate. Elliott covers the Industrial Goods sector, focusing on stocks such as Astec Industries, Generac Holdings, and Kennametal.

Currently, the analyst consensus on Manitowoc Company is Moderate Buy and the average price target is $36.57, representing a 49.9% upside.

In a report released today, RBC Capital also maintained a Buy rating on the stock with a $40 price target.

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Based on Manitowoc Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10 million. In comparison, last year the company had a GAAP net loss of $36 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2018, Thomas Musial, the SVP Human Resources & Administ of MTW sold 4,476 shares for a total of $151,423.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The Manitowoc Co., Inc. engages in the design, manufacture and distribution of a line of crawler mounted lattice boom cranes, under the Manitowoc brand. It operates through the following segments: Americas, Europe and Africa, and Middle East and Asia Pacific. The Americas segment includes the North American and South American continents.