Stifel Nicolaus Thinks Manitowoc Company’s Stock is Going to Recover

By Carrie Williams

In a report issued on August 10, Stanley Elliott from Stifel Nicolaus reiterated a Buy rating on Manitowoc Company (NYSE: MTW), with a price target of $33. The company’s shares closed on Friday at $22.93, close to its 52-week low of $22.75.

According to TipRanks.com, Elliott is a 5-star analyst with an average return of 14.7% and a 66.1% success rate. Elliott covers the Industrial Goods sector, focusing on stocks such as Astec Industries, Generac Holdings, and CNH Industrial.

Currently, the analyst consensus on Manitowoc Company is a Moderate Buy with an average price target of $28.50, which is a 24.3% upside from current levels. In a report issued on August 8, Seaport Global also reiterated a Buy rating on the stock with a $31 price target.

.

See today’s analyst top recommended stocks >>

Manitowoc Company’s market cap is currently $814.8M and has a P/E ratio of 18.49. The company has a Price to Book ratio of 1.22.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MTW in relation to earlier this year.

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.