Manitowoc (NYSE:MTW) Stock Dropped to “Buy” by Wall Street Zen

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

A number of other equities analysts also recently weighed in on MTW. Wells Fargo & Company boosted their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Barclays reissued 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. One 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, Manitowoc currently has an average rating of “Sell” and an average price target of $14.00.

Manitowoc Stock Performance

Manitowoc stock opened at $21.48 on Friday. The stock has a 50-day simple moving average of $21.02 and a 200 day simple moving average of $15.75. The stock has a market capitalization of $774.64 million, a price-to-earnings ratio of 39.06 and a beta of 1.74. The company has a quick ratio of 0.75, a current ratio of 2.11 and a debt-to-equity ratio of 0.66. Manitowoc has a 12-month low of $9.93 and a 12-month high of $24.00.

Manitowoc (NYSE:MTW) last issued 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 net margin of 0.87% and a return on equity of 3.86%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $564.00 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, research analysts anticipate that Manitowoc will post 1.00 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake in shares of Manitowoc by 38.2% during the third quarter. SummerHaven Investment Management LLC now owns 75,200 shares of the industrial products company’s stock valued at $1,614,000 after acquiring an additional 20,797 shares during the period. Goldstein Advisors LLC boosted its holdings in 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 acquiring an additional 633,193 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Manitowoc in the second quarter worth about $102,000. Squarepoint Ops LLC increased its position in Manitowoc by 4.1% in the second quarter. Squarepoint Ops LLC now owns 27,603 shares of the industrial products company’s stock worth $383,000 after purchasing an additional 1,088 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Manitowoc in the second quarter worth about $449,000. Institutional investors 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.