NEW YORK (TheStreet) -- UBS lifted its estimates on Manitowoc Company (MTW) after the heavy machinery manufacturer boosted its numbers through 2015. The investment firm pegs Manitowoc with a $30 price target and "neutral" rating.
On Thursday, the Wisconsin-based business posted fourth-quarter earnings above expectations. Net income of 47 cents a share was 13 cents higher than what analysts polled by Thomson Reuters had expected. Revenue of $1.1 billion was broadly in line with consensus, but dipped 2.7% lower year-on-year.
Crane orders are up 30% year-on-year and backlog is up 1% sequentially.
For the full year, net earnings of $1.45 a share came in 19 cents higher than analyst consensus. Revenue of $4 billion increased 3.4%, in line with estimates.
Management expects crane revenue to experience modest top-line growth over full-year 2014 with operating margins in the high single-digit percentage range. Food service revenue is expected to grow in the mid-single digits with operating margins approaching high-teens percentages.
By market open Monday, shares had taken off 0.46% to $28.32.
TheStreet Ratings team rates MANITOWOC CO as a Buy with a ratings score of B. The team has this to say about their recommendation:
"We rate MANITOWOC CO (MTW) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
- You can view the full analysis from the report here: MTW Ratings Report