Manitowoc (NYSE:MTW) Price Target Cut to $11.00 by Analysts at Barclays

Manitowoc (NYSE:MTW) had its price objective decreased by equities research analysts at Barclays from $13.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential downside of 9.13% from the company’s previous close.

A number of other research analysts also recently commented on the company. Weiss Ratings downgraded Manitowoc from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Wells Fargo & Company restated an “underweight” rating and set a $10.00 price objective (up from $9.00) on shares of Manitowoc in a report on Friday, January 23rd. Finally, Wall Street Zen cut Manitowoc from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Manitowoc currently has a consensus rating of “Strong Sell” and a consensus price target of $10.50.

Manitowoc Stock Up 3.9%

Manitowoc stock traded up $0.46 during midday trading on Wednesday, hitting $12.11. 74,812 shares of the stock were exchanged, compared to its average volume of 278,419. Manitowoc has a 1 year low of $7.06 and a 1 year high of $15.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.23 and a quick ratio of 0.84. The firm has a market cap of $434.67 million, a P/E ratio of 63.71 and a beta of 1.82. The company has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $12.18.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $677.10 million during the quarter, compared to analysts’ expectations of $637.00 million. Manitowoc had a net margin of 0.32% and a return on equity of 1.71%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. On average, sell-side analysts predict that Manitowoc will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its position in shares of Manitowoc by 170.6% during 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 during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Manitowoc by 135.6% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 42,904 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 24,696 shares during the period. 9823 Capital L.P. acquired a new position in Manitowoc in the fourth quarter valued at approximately $179,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Manitowoc during the fourth quarter valued at approximately $294,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Manitowoc during the 4th quarter worth approximately $1,449,000. Institutional investors own 78.66% of the company’s stock.

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.