Manitowoc (NYSE:MTW) Reaches New 52-Week High - Here's Why

Key Points

• Manitowoc shares reached a new 52-week high of $21.50 and were recently trading at $21.40, up 4.6% from the prior close.
• The rally follows strong quarterly results: Manitowoc reported $0.46 in EPS versus a $0.11 estimate, while revenue rose 10.3% year over year to $594.9 million.
• Institutional investors increased their holdings, with hedge funds and other institutions owning 78.66% of the stock. However, analysts remain cautious, giving Manitowoc a consensus “Sell” rating and an average price target of $14.00.

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $21.50 and last traded at $21.40, with a volume of 304043 shares changing hands. The stock had previously closed at $20.45.

Analyst Upgrades and Downgrades

MTW has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their target price on 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 "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Barclays reaffirmed an "underweight" rating and issued a $16.00 price target (up from $11.00) on shares of Manitowoc in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of Manitowoc from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Manitowoc presently has a consensus rating of "Sell" and an average price target of $14.00.

Manitowoc Stock Up 4.6%

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 firm has a market cap of $771.68 million, a PE ratio of 38.91 and a beta of 1.77. The business's 50-day simple moving average is $15.93 and its 200 day simple moving average is $13.90.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.46 earnings per share (EPS) 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 company had revenue of $594.90 million for the quarter, compared to analyst estimates of $564.00 million. During the same period last year, the company 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. As a group, equities research analysts expect that The Manitowoc Company, Inc. will post 1 earnings per share for the current year.

Institutional Investors Weigh In On Manitowoc

Large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of Manitowoc by 19.0% in the first quarter. AQR Capital Management LLC now owns 290,452 shares of the industrial products company's stock worth $2,495,000 after buying an additional 46,324 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Manitowoc by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 273,121 shares of the industrial products company's stock valued at $2,346,000 after buying an additional 56,336 shares during the last quarter. Caxton Associates LLP acquired a new position in Manitowoc in the 1st quarter worth approximately $112,000. Empowered Funds LLC raised its position in Manitowoc by 7.3% during the 1st quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company's stock worth $1,633,000 after buying an additional 13,001 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Manitowoc by 49.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 364,915 shares of the industrial products company's stock valued at $4,386,000 after acquiring an additional 120,658 shares during the period. Hedge funds and other 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.

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