Manitowoc (NYSE:MTW) Hits New 12-Month High – Should You Buy?

The Manitowoc Company, Inc. (NYSE:MTW)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.19 and last traded at $14.25, with a volume of 114134 shares changing hands. The stock had previously closed at $13.80.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Wells Fargo & Company assumed coverage on Manitowoc in a report on Thursday, November 13th. They issued an “underweight” rating and a $9.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manitowoc in a research report on Monday, December 22nd. Three investment analysts have 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 “Reduce” and a consensus price target of $10.25.

Manitowoc Stock Performance

The stock’s 50-day moving average price is $11.96 and its 200 day moving average price is $11.37. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70. The company has a market cap of $499.06 million, a P/E ratio of 8.85 and a beta of 1.88.

Manitowoc (NYSE:MTW) last announced its earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) EPS for the quarter. The firm had revenue of $354.30 million during the quarter. Manitowoc had a return on equity of 0.87% and a net margin of 2.63%. As a group, research analysts expect that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Manitowoc in the fourth quarter valued at approximately $167,000. JPMorgan Chase & Co. raised its stake in Manitowoc by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 371,233 shares of the industrial products company’s stock valued at $3,716,000 after purchasing an additional 6,318 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in Manitowoc by 67.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 203,758 shares of the industrial products company’s stock valued at $2,040,000 after purchasing an additional 81,864 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Manitowoc by 1.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,798 shares of the industrial products company’s stock valued at $3,982,000 after purchasing an additional 4,743 shares during the period. Finally, Numerai GP LLC acquired a new stake in Manitowoc in the 3rd quarter worth $182,000. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Company Profile

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.