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

Key Points

• Wall Street Zen downgraded Manitowoc from “strong buy” to “buy,” while the broader analyst consensus remains “sell,” with an average price target of $14.00.
• Manitowoc reported quarterly adjusted earnings of $0.46 per share, surpassing the $0.11 consensus estimate, while revenue rose 10.3% year over year to $594.9 million.
• The stock opened at $22.24, near its 12-month high of $24.00, and institutional investors own approximately 78.66% of the company’s shares.

Manitowoc (NYSE:MTW - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Sunday, Wall Street Zen reports.

Several other research firms have also issued reports on MTW. Wells Fargo & Company lifted 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. 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. Finally, Weiss Ratings upgraded Manitowoc from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Manitowoc currently has an average rating of "Sell" and a consensus target price of $14.00.

Manitowoc Stock Performance

Manitowoc stock opened at $22.24 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. Manitowoc has a 12 month low of $9.93 and a 12 month high of $24.00. The company has a market cap of $801.87 million, a price-to-earnings ratio of 40.43 and a beta of 1.74. The stock's 50-day moving average is $21.24 and its 200-day moving average is $16.12.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, beating 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 business had revenue of $594.90 million for the quarter, compared to the consensus estimate of $564.00 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Manitowoc's revenue for the quarter was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Equities analysts anticipate that Manitowoc will post 1.00 earnings per share for the current year.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds have recently made changes to their positions in MTW. Front Street Capital Management Inc. bought a new stake in Manitowoc during the 2nd quarter worth about $44,547,000. Bank of New York Mellon Corp acquired a new position in Manitowoc during the 2nd quarter valued at about $1,717,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Manitowoc by 37.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company's stock valued at $4,673,000 after purchasing an additional 108,347 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Manitowoc by 100.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company's stock valued at $1,754,000 after purchasing an additional 63,215 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Manitowoc by 170.6% in the 4th quarter. Hsbc Holdings PLC now owns 69,393 shares of the industrial products company's stock valued at $836,000 after purchasing an additional 43,753 shares during 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 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.

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