Manitowoc (NYSE:MTW) Given New $12.00 Price Target at Wells Fargo & Company

Manitowoc (NYSE:MTW) had its target price lifted by investment analysts at Wells Fargo & Company from $10.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 41.33% from the stock’s previous close.

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

Manitowoc Trading Up 1.5%

NYSE MTW opened at $20.45 on Thursday. The company has a quick ratio of 0.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $13.70 and its two-hundred day simple moving average is $13.25. Manitowoc has a twelve month low of $9.09 and a twelve month high of $20.27. The company has a market capitalization of $737.61 million, a price-to-earnings ratio of 37.19 and a beta of 1.72.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.11 by $0.35. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $564.00 million. Manitowoc had a return on equity of 3.88% and a net margin of 0.87%.The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Research analysts forecast that Manitowoc will post 0.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Kenneth W. Krueger sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $11.80, for a total transaction of $106,200.00. Following the transaction, the director directly owned 162,672 shares of the company’s stock, valued at approximately $1,919,529.60. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Front Street Capital Management Inc. lifted its position in shares of Manitowoc by 1.8% in the 1st quarter. Front Street Capital Management Inc. now owns 3,321,784 shares of the industrial products company’s stock worth $38,699,000 after purchasing an additional 57,761 shares during the period. Vanguard Group Inc. grew its holdings in shares of Manitowoc by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,139,051 shares of the industrial products company’s stock worth $21,412,000 after acquiring an additional 6,043 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Manitowoc by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,750 shares of the industrial products company’s stock worth $22,586,000 after acquiring an additional 12,863 shares in the last quarter. IES Holdings Inc. purchased a new position in shares of Manitowoc in the 4th quarter valued at approximately $14,688,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Manitowoc by 28.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 998,723 shares of the industrial products company’s stock worth $11,975,000 after buying an additional 222,858 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

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.