Manitowoc (NYSE:MTW) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Manitowoc to “strong-buy” from “buy,” although the broader analyst consensus remains “sell” with a $14.00 target price.
• Manitowoc reported quarterly earnings of $0.46 per share, beating estimates of $0.11, while revenue rose 10.3% year over year to $594.9 million.
• MTW opened at $20.70, near its 52-week high of $21.34 and well above its 50-day and 200-day moving averages, despite a recent 0.8% decline.

Manitowoc (NYSE:MTW - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

MTW has been the topic of a number of other research reports. Weiss Ratings raised Manitowoc from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on Manitowoc from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Barclays reiterated an "underweight" rating and issued a $16.00 price objective (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Sell" and a consensus target price of $14.00.

Manitowoc Trading Down 0.8%

MTW opened at $20.70 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.72. The company has a market cap of $746.48 million, a price-to-earnings ratio of 37.64 and a beta of 1.72. The firm has a 50 day simple moving average of $14.04 and a 200 day simple moving average of $13.36. Manitowoc has a fifty-two week low of $9.09 and a fifty-two week high of $21.34.

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

Insider Buying and Selling

In other Manitowoc news, Director Kenneth W. Krueger sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $11.80, for a total value of $106,200.00. Following the completion of the sale, the director owned 162,672 shares of the company's stock, valued at approximately $1,919,529.60. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.96% of the company's stock.

Institutional Trading of Manitowoc

Large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Manitowoc by 37.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company's stock worth $4,673,000 after buying an additional 108,347 shares during the period. Assenagon Asset Management S.A. lifted its stake in Manitowoc by 100.2% in the second quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company's stock valued at $1,754,000 after buying an additional 63,215 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Manitowoc by 170.6% in the fourth quarter. Hsbc Holdings PLC now owns 69,393 shares of the industrial products company's stock valued at $836,000 after buying an additional 43,753 shares during the period. Front Street Capital Management Inc. boosted its holdings in shares of Manitowoc by 1.8% in the first quarter. Front Street Capital Management Inc. now owns 3,321,784 shares of the industrial products company's stock valued at $38,699,000 after buying an additional 57,761 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Manitowoc by 40.2% in the fourth quarter. Kennedy Capital Management LLC now owns 818,618 shares of the industrial products company's stock valued at $9,815,000 after buying an additional 234,840 shares during the period. Institutional investors own 78.66% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source