Manitowoc (NYSE:MTW) Shares Break Above 50 Day Moving Average – Time to Sell?

The Manitowoc Company, Inc. (NYSE:MTW) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $21.89 and traded as high as $22.95. Manitowoc shares last traded at $22.3130, with a volume of 438,176 shares.

Wall Street Analysts Forecast Growth

MTW has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Manitowoc from $12.00 to $15.00 and gave the stock an “underweight” rating in a report on Thursday. Wall Street Zen upgraded shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Barclays boosted their price target on Manitowoc from $16.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Weiss Ratings raised shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Manitowoc has a consensus rating of “Sell” and a consensus target price of $17.50.

Manitowoc Trading Up 3.0%

The firm has a market cap of $804.61 million, a price-to-earnings ratio of 31.43 and a beta of 1.78. 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 business has a 50-day moving average of $21.89 and a 200-day moving average of $15.78.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The firm had revenue of $613.80 million during the quarter, compared to analyst estimates of $577.00 million. During the same period in the previous year, the business posted $0.14 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that The Manitowoc Company, Inc. will post 1.08 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in shares of Manitowoc by 583.2% in the 3rd quarter. Signaturefd LLC now owns 1,544 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,318 shares during the period. State of Wyoming purchased a new position in Manitowoc in the 1st quarter valued at $62,000. Integrated Wealth Concepts LLC purchased a new position in shares of Manitowoc in the 2nd quarter worth about $102,000. Fulcrum Asset Management LLP bought a new stake in shares of Manitowoc during the third quarter valued at approximately $133,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Manitowoc by 5.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 32,187 shares of the industrial products company’s stock valued at $375,000 after buying an additional 1,594 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

About Manitowoc

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.