Manitowoc (NYSE:MTW) Cut to Hold at StockNews.com

Posted by on Apr 12th, 2023

Manitowoc (NYSE:MTW – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities research analysts have also weighed in on MTW. Citigroup raised their price objective on Manitowoc from $11.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, March 6th. Robert W. Baird increased their price objective on shares of Manitowoc from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 21st. The Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating and raised their target price for the stock from $13.00 to $15.00 in a report on Monday, April 3rd. Stifel Nicolaus increased their price target on Manitowoc from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, December 19th. Finally, Wells Fargo & Company boosted their price objective on Manitowoc from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, February 22nd. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, Manitowoc has an average rating of “Hold” and an average target price of $14.13.

Manitowoc Trading Up 0.9 %

Manitowoc stock opened at $14.88 on Wednesday. The stock has a 50-day moving average price of $16.28 and a 200 day moving average price of $11.99. The company has a current ratio of 1.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The stock has a market cap of $523.33 million, a PE ratio of -4.23 and a beta of 2.05. Manitowoc has a 52 week low of $7.53 and a 52 week high of $20.20.

Manitowoc (NYSE:MTW – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The industrial products company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.51. Manitowoc had a positive return on equity of 6.09% and a negative net margin of 6.08%. The business had revenue of $621.60 million for the quarter, compared to analyst estimates of $562.36 million. During the same period in the previous year, the company posted $0.27 EPS. Equities research analysts predict that Manitowoc will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Manitowoc

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Manitowoc by 39.0% in the third quarter. Barclays PLC now owns 30,127 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 8,452 shares during the period. Teton Advisors Inc. increased its stake in shares of Manitowoc by 49.3% during the third quarter. Teton Advisors Inc. now owns 21,500 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 7,100 shares during the period. Front Street Capital Management Inc. raised its holdings in Manitowoc by 3.0% during the third quarter. Front Street Capital Management Inc. now owns 2,484,277 shares of the industrial products company’s stock worth $19,253,000 after purchasing an additional 72,641 shares in the last quarter. Gabelli Funds LLC lifted its position in Manitowoc by 44.2% in the third quarter. Gabelli Funds LLC now owns 89,000 shares of the industrial products company’s stock worth $690,000 after purchasing an additional 27,300 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Manitowoc by 108.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 397,225 shares of the industrial products company’s stock valued at $3,078,000 after purchasing an additional 206,350 shares in the last quarter. Institutional investors own 74.27% of the company’s stock.

About Manitowoc

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The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.

Further Reading

Analyst Recommendations for Manitowoc (NYSE:MTW)

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