Manitowoc (NYSE:MTW) Shares Gap Down - Time to Sell?

Key Points

• Manitowoc shares gapped down from a prior close of $20.19 to open at $19.30, later trading near $19.05.
• Analyst sentiment remains bearish: the stock has a consensus “Sell” rating and an average price target of $14.00, despite some firms recently raising targets or upgrading their ratings.
• The company beat quarterly expectations with $0.46 in EPS versus $0.11 forecast and $594.9 million in revenue, up 10.3% year over year; however, its net margin was just 0.87%.

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $20.19, but opened at $19.30. Manitowoc shares last traded at $19.0540, with a volume of 45,958 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTW shares. Barclays reissued an "underweight" rating and issued a $16.00 price target (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wells Fargo & Company upped their price objective on Manitowoc from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Thursday, August 13th. Weiss Ratings upgraded Manitowoc from a "sell (d+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Manitowoc from a "buy" rating to a "strong-buy" rating in a research note on Sunday. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Sell" and a consensus target price of $14.00.

Manitowoc Stock Performance

The company has a current ratio of 2.11, a quick ratio of 0.75 and a debt-to-equity ratio of 0.66. The company has a market cap of $692.03 million, a price-to-earnings ratio of 34.82 and a beta of 1.72. The stock has a 50 day moving average price of $14.35 and a two-hundred day moving average price of $13.45.

Manitowoc (NYSE:MTW - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.35. The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $564.00 million. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Analysts predict that The Manitowoc Company, Inc. will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Manitowoc

Several institutional investors and hedge funds have recently made changes to their positions in the company. Garner Asset Management Corp bought a new position in Manitowoc during the fourth quarter worth about $36,000. Tower Research Capital LLC TRC lifted its holdings in shares of Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 2,575 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Manitowoc in the 3rd quarter valued at approximately $47,000. State of Wyoming acquired a new position in shares of Manitowoc in the 1st quarter valued at approximately $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Manitowoc during the 2nd quarter worth approximately $84,000. Institutional investors and hedge funds own 78.66% of the company's stock.

About Manitowoc

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.

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