Manitowoc (NYSE:MTW) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Manitowoc (NYSE:MTW) from a strong-buy rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on MTW. Barclays reiterated an “underweight” rating and set a $16.00 price target (up from $11.00) on shares of Manitowoc in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $14.00.

Manitowoc Trading Up 0.8%

Manitowoc stock opened at $21.72 on Friday. The business has a 50 day moving average price of $21.08 and a two-hundred day moving average price of $15.85. The company has a quick ratio of 0.75, a current ratio of 2.11 and a debt-to-equity ratio of 0.66. The stock has a market cap of $783.22 million, a price-to-earnings ratio of 39.49 and a beta of 1.74. Manitowoc has a 12 month low of $9.93 and a 12 month high of $24.00.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.46 EPS 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 the consensus estimate of $564.00 million. During the same quarter last year, the company earned $0.08 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. As a group, equities analysts forecast that Manitowoc will post 1.00 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Hedge funds have recently made changes to their positions in the company. Front Street Capital Management Inc. bought a new stake in shares of Manitowoc during the second quarter worth $44,547,000. Goldstein Advisors LLC increased its stake in shares of Manitowoc by 3,280.8% in the third quarter. Goldstein Advisors LLC now owns 652,493 shares of the industrial products company’s stock valued at $14,002,000 after buying an additional 633,193 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Manitowoc in the second quarter valued at $1,717,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Manitowoc by 37.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company’s stock valued at $4,673,000 after buying an additional 108,347 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Manitowoc by 100.2% in the second quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock valued at $1,754,000 after buying an additional 63,215 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of lifting equipment used in construction, infrastructure development, energy, and industrial applications. The company designs and produces a broad range of cranes, including mobile hydraulic cranes, crawler cranes, tower cranes, boom trucks, and related lifting solutions.

Manitowoc markets its products under well-known brands such as Manitowoc, Grove, Potain, National Crane, and Shuttlelift. Its offerings include cranes for assembling and servicing buildings, bridges, power facilities, industrial plants, and other large-scale projects.