Manitowoc (NYSE:MTW) Stock Price Crosses Above 200-Day Moving Average - Here's Why

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.71 and traded as high as $12.83. Manitowoc shares last traded at $12.76, with a volume of 189,324 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTW. UBS Group lifted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Robert W. Baird cut their price target on shares of Manitowoc from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.86.

Manitowoc Stock Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.90 and a quick ratio of 0.64. The stock has a market cap of $452.21 million, a PE ratio of 10.21 and a beta of 2.03. The business has a 50 day moving average price of $10.61 and a two-hundred day moving average price of $9.71.

Manitowoc (NYSE:MTW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.03). The firm had revenue of $470.90 million for the quarter, compared to the consensus estimate of $479.39 million. Manitowoc had a net margin of 2.09% and a return on equity of 0.63%. The company's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, equities research analysts forecast that The Manitowoc Company, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Manitowoc

In other Manitowoc news, CEO Aaron H. Ravenscroft bought 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $8.68 per share, with a total value of $26,040.00. Following the completion of the purchase, the chief executive officer directly owned 690,142 shares of the company's stock, valued at $5,990,432.56. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Manitowoc during the fourth quarter valued at approximately $35,000. Quantbot Technologies LP boosted its holdings in Manitowoc by 20.9% in the fourth quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company's stock valued at $94,000 after acquiring an additional 1,771 shares in the last quarter. LPL Financial LLC increased its position in Manitowoc by 10.0% during the 4th quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 1,030 shares during the period. GAMMA Investing LLC raised its holdings in Manitowoc by 3,309.6% in the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company's stock worth $104,000 after purchasing an additional 11,782 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in Manitowoc in the 1st quarter worth $112,000. Institutional investors own 78.66% of the company's stock.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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