Brokerages Set The Manitowoc Company, Inc. (NYSE:MTW) Price Target at $10.50

Shares of The Manitowoc Company, Inc. (NYSE:MTW) have received a consensus rating of “Strong Sell” from the five analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.50.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Manitowoc from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Barclays lowered their target price on shares of Manitowoc from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $10.00 target price (up from $9.00) on shares of Manitowoc in a research note on Friday, January 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in shares of Manitowoc by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 23,090 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 696 shares during the last quarter. Deutsche Bank AG raised its position in shares of Manitowoc by 6.4% during the 4th quarter. Deutsche Bank AG now owns 33,847 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 2,025 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Manitowoc by 20.9% during the 3rd quarter. Intech Investment Management LLC now owns 13,752 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 2,376 shares during the last quarter. Associated Banc Corp raised its position in shares of Manitowoc by 13.6% during the 3rd quarter. Associated Banc Corp now owns 20,302 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 2,435 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Manitowoc by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 2,575 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Trading Down 1.1%

MTW stock opened at $12.70 on Thursday. The company’s 50-day simple moving average is $12.72 and its 200-day simple moving average is $12.69. 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 52-week low of $9.09 and a 52-week high of $15.56. The firm has a market cap of $456.06 million, a P/E ratio of 63.50 and a beta of 1.81.

Manitowoc (NYSE:MTW) last posted its earnings results on Tuesday, May 5th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.17). Manitowoc had a return on equity of 1.85% and a net margin of 0.33%.The firm had revenue of $494.60 million for the quarter, compared to analysts’ expectations of $517.00 million. During the same period in the previous year, the company earned ($0.16) earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. As a group, equities analysts forecast that Manitowoc will post 0.68 EPS for the current fiscal year.

Manitowoc Company Profile

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.