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

Key Points

• Manitowoc shares broke above their 200-day moving average of $15.71, trading as high as $22.44 and last changing hands near $22.41.
• Despite the stock’s rally, analysts remain bearish: the consensus rating is “Sell”, with a $14.00 price target versus the current share price.
• The company exceeded quarterly expectations with $0.46 in EPS 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 passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.71 and traded as high as $22.44. Manitowoc shares last traded at $22.4060, with a volume of 360,053 shares traded.

Analyst Ratings Changes

MTW has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Manitowoc from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of Manitowoc from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Wells Fargo & Company raised their price objective on shares of Manitowoc from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Thursday, August 13th. Finally, Barclays restated 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 equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Sell" and a consensus price target of $14.00.

Manitowoc Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11. The business's 50-day moving average is $20.97 and its 200-day moving average is $15.71. The company has a market capitalization of $808.01 million, a PE ratio of 40.74 and a beta of 1.74.

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, topping analysts' consensus estimates 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 analysts' expectations of $564.00 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business'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, research analysts anticipate that The Manitowoc Company, Inc. will post 1.00 earnings per share for the current year.

Institutional Trading of Manitowoc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Front Street Capital Management Inc. bought a new position in Manitowoc during the 2nd quarter valued at approximately $44,547,000. Bank of New York Mellon Corp purchased a new position in Manitowoc during the second quarter valued at $1,717,000. Arrowstreet Capital Limited Partnership boosted its holdings in Manitowoc by 37.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company's stock worth $4,673,000 after acquiring an additional 108,347 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 worth $1,754,000 after acquiring an additional 63,215 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Manitowoc by 170.6% in the fourth quarter. Hsbc Holdings PLC now owns 69,393 shares of the industrial products company's stock worth $836,000 after acquiring an additional 43,753 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company's stock.

About Manitowoc

The Manitowoc Company, Inc NYSE: MTW is a global manufacturer of lifting equipment used in construction, infrastructure development, energy, and industrial applications. The company designs and produces a broad range of cranes, including mobile hydraulic cranes, crawler cranes, tower cranes, boom trucks, and related lifting solutions.

Manitowoc markets its products under well-known brands such as Manitowoc, Grove, Potain, National Crane, and Shuttlelift. Its offerings include cranes for assembling and servicing buildings, bridges, power facilities, industrial plants, and other large-scale projects.

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