Manitowoc (NYSE:MTW) Sets New 12-Month High - What's Next?

Key Points

• Manitowoc shares reached a new 52-week high of $23.56, trading above both their 50-day and 200-day moving averages.
• Despite recent analyst upgrades, Wall Street’s overall view remains bearish, with an average “Sell” rating and a $14.00 price target—well below the current share price.
• The company exceeded quarterly expectations, reporting $0.46 in earnings per share versus $0.11 forecast and revenue of $594.9 million, up 10.3% year over year; institutional investors own 78.66% of the stock.

The Manitowoc Company, Inc. (NYSE:MTW - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday. The company traded as high as $23.56 and last traded at $23.1740, with a volume of 28042 shares traded. The stock had previously closed at $22.40.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTW. Wall Street Zen upgraded Manitowoc from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Weiss Ratings upgraded Manitowoc from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Wells Fargo & Company upped their price objective on Manitowoc from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Thursday, August 13th. Finally, Barclays reiterated an "underweight" rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a research report on Monday, August 10th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Sell" and an average target price of $14.00.

Manitowoc Stock Performance

The stock's 50-day simple moving average is $19.32 and its 200-day simple moving average is $14.96. The stock has a market cap of $834.50 million, a price-to-earnings ratio of 42.12 and a beta of 1.74. The company has a current ratio of 2.11, a quick ratio of 0.75 and a debt-to-equity ratio of 0.66.

Manitowoc (NYSE:MTW - Get Free Report) last released 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. The company had revenue of $594.90 million during the quarter, compared to the consensus estimate of $564.00 million. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Analysts forecast that The Manitowoc Company, Inc. will post 1 earnings per share for the current fiscal year.

Institutional Trading of Manitowoc

A number of institutional investors have recently modified their holdings of MTW. Front Street Capital Management Inc. acquired a new stake in Manitowoc during the second quarter worth about $44,547,000. Bank of New York Mellon Corp bought a new position in Manitowoc in the 2nd quarter valued at about $1,717,000. Arrowstreet Capital Limited Partnership raised its position 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 buying an additional 108,347 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 buying an additional 63,215 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position 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 buying an additional 43,753 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.

About Manitowoc

The Manitowoc Company, Inc NYSE: MTW is a global manufacturer of cranes and related lifting equipment. Its products are used in construction, infrastructure development, energy, industrial, and other applications that require the movement and placement of heavy materials.

The company's product portfolio includes tower cranes, mobile hydraulic cranes, crawler cranes, and boom trucks. Its principal brands include Manitowoc, Potain, Grove, and National Crane. Manitowoc also provides crane parts, maintenance, technical support, and other aftermarket services to help customers operate and maintain their equipment.

Founded in 1902 in Manitowoc, Wisconsin, the company has developed an international presence serving customers through manufacturing, sales, distribution, and service operations across North America, Europe, Asia, and other global markets.

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.