Wells Fargo & Company Issues Positive Forecast for Manitowoc (NYSE:MTW) Stock Price

Key Points

• Wells Fargo raised Manitowoc’s price target from $10 to $12 but maintained an “underweight” rating, implying about 41% downside from the reported current price.
• Analyst sentiment remains largely negative: MarketBeat reports a consensus “Sell” rating and an average price target of $14, despite some firms recently improving their ratings or targets.
• Manitowoc exceeded quarterly expectations, reporting $0.46 in EPS versus $0.11 expected and $594.9 million in revenue versus $564 million forecast; revenue rose 10.3% year over year.

Manitowoc (NYSE:MTW - Get Free Report) had its target price raised by investment analysts at Wells Fargo & Company from $10.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would suggest a potential downside of 41.33% from the company's current price.

Several other research firms have also weighed in on MTW. Barclays reiterated an "underweight" rating and issued a $16.00 price objective (up from $11.00) on shares of Manitowoc in a research note on Monday. Weiss Ratings raised Manitowoc from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday. Finally, Wall Street Zen raised Manitowoc from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell" and a consensus price target of $14.00.

Manitowoc Price Performance

NYSE MTW opened at $20.45 on Thursday. The company has a market capitalization of $737.61 million, a PE ratio of 37.19 and a beta of 1.72. The firm's 50 day moving average is $13.70 and its 200-day moving average is $13.25. The company has a quick ratio of 0.72, a current ratio of 2.10 and a debt-to-equity ratio of 0.64. Manitowoc has a 12-month low of $9.09 and a 12-month high of $20.27.

Manitowoc (NYSE:MTW - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share (EPS) 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 3.88%. The firm had revenue of $594.90 million for the quarter, compared to the consensus estimate of $564.00 million. During the same quarter in the previous year, the company earned $0.08 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. Equities research analysts anticipate that Manitowoc will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Manitowoc

In related news, Director Kenneth W. Krueger sold 9,000 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $11.80, for a total transaction of $106,200.00. Following the completion of the sale, the director owned 162,672 shares in the company, 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 filing with the SEC, which can be accessed through this link. 3.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 buying an additional 108,347 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in 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 purchasing an additional 43,753 shares during the period. Front Street Capital Management Inc. increased 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 worth $38,699,000 after purchasing an additional 57,761 shares during the period. Kennedy Capital Management LLC boosted its stake in Manitowoc by 40.2% during 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. Finally, State of Wyoming purchased a new position in Manitowoc during the first quarter worth about $62,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

About Manitowoc

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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