Manitowoc (NYSE:MTW) Stock Bumped Down to Buy by Wall Street Zen

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

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings raised shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. 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. Finally, Barclays reissued an “underweight” rating and set a $16.00 target price (up from $11.00) on shares of Manitowoc in a research report on Monday, August 10th. 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.com, the company presently has a consensus rating of “Sell” and a consensus target price of $14.00.

Manitowoc Price Performance

MTW opened at $22.24 on Friday. Manitowoc has a 1 year low of $9.93 and a 1 year high of $24.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. The company has a market capitalization of $801.87 million, a price-to-earnings ratio of 40.43 and a beta of 1.74. The firm’s fifty day moving average price is $21.24 and its two-hundred day moving average price is $16.15.

Manitowoc (NYSE:MTW) last announced its earnings results 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. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The company had revenue of $594.90 million during the quarter, compared to the consensus estimate of $564.00 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The firm’s revenue for the quarter 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, analysts anticipate that Manitowoc will post 1.00 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its position in shares of Manitowoc by 4.1% in the second quarter. Squarepoint Ops LLC now owns 27,603 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 1,088 shares during the period. Signaturefd LLC raised its stake in shares of Manitowoc by 583.2% during the third quarter. Signaturefd LLC now owns 1,544 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,318 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Manitowoc by 5.2% during the first quarter. Public Employees Retirement System of Ohio now owns 32,187 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 1,594 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Manitowoc by 5.1% during the first quarter. Sei Investments Co. now owns 56,581 shares of the industrial products company’s stock worth $659,000 after purchasing an additional 2,733 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Manitowoc by 10.2% during the first quarter. Quantinno Capital Management LP now owns 54,639 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 5,058 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.