Manitowoc (NYSE:MTW) Hits New 12-Month High on Analyst Upgrade

The Manitowoc Company, Inc. (NYSE:MTW) shares hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $10.00 to $12.00. Wells Fargo & Company currently has an underweight rating on the stock. Manitowoc traded as high as $20.27 and last traded at $20.25, with a volume of 464862 shares trading hands. The stock had previously closed at $19.46.

Several other equities analysts have also recently issued reports on MTW. Weiss Ratings upgraded Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen upgraded Manitowoc from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays reissued an “underweight” rating and issued a $16.00 target price (up from $11.00) on shares of Manitowoc in a report on Monday. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus target price of $14.00.

Insiders Place Their Bets

In other Manitowoc news, Director Kenneth W. Krueger sold 9,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $11.80, for a total value of $106,200.00. Following the completion of the transaction, the director directly owned 162,672 shares of the company’s stock, valued at approximately $1,919,529.60. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.96% of the company’s stock.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently bought and sold shares of the company. Garner Asset Management Corp acquired a new stake in Manitowoc in the 4th quarter valued at about $36,000. Quantbot Technologies LP acquired a new position in shares of Manitowoc during the 3rd quarter worth approximately $47,000. Tower Research Capital LLC TRC raised its position in shares of Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 2,575 shares during the last quarter. State of Wyoming purchased a new stake in Manitowoc in the 1st quarter valued at approximately $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Manitowoc during the 2nd quarter valued at $84,000. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Trading Down 0.8%

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 2.11. The business has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $13.36. The stock has a market cap of $746.48 million, a price-to-earnings ratio of 37.64 and a beta of 1.72.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.35. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The company had revenue of $594.90 million during the quarter, compared to analysts’ expectations of $564.00 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. As a group, equities analysts anticipate that The Manitowoc Company, Inc. will post 0.68 EPS for the current year.

About Manitowoc

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.