The Manitowoc Company, Inc. (NYSE:MTW – Get Free Report)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $21.50 and last traded at $21.3560, with a volume of 10591 shares. The stock had previously closed at $20.56.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, August 13th. Barclays reiterated an “underweight” rating and set a $16.00 target price (up from $11.00) on shares of Manitowoc in a research report on Monday, August 10th. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Sell” and an average target price of $14.00.
Get Our Latest Stock Analysis on Manitowoc
Manitowoc Trading Up 2.9%
Manitowoc (NYSE:MTW – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.35. The business had revenue of $594.90 million during the quarter, compared to analyst estimates of $564.00 million. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%.Manitowoc’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.08 EPS. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, equities analysts anticipate that The Manitowoc Company, Inc. will post 1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Manitowoc
A number of large investors have recently bought and sold shares of the business. Front Street Capital Management Inc. bought a new stake in Manitowoc in the second quarter valued at $44,547,000. Kennedy Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 234,840 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Manitowoc in the 2nd quarter valued at $1,717,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Manitowoc by 37.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 401,100 shares of the industrial products company’s stock valued at $4,673,000 after purchasing an additional 108,347 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Manitowoc by 100.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock valued at $1,754,000 after purchasing an additional 63,215 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors.
Manitowoc Company Profile
The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and related lifting equipment. Its products are used in construction, infrastructure development, energy, industrial, and other applications that require the movement and placement of heavy materials.
The company’s product portfolio includes tower cranes, mobile hydraulic cranes, crawler cranes, and boom trucks. Its principal brands include Manitowoc, Potain, Grove, and National Crane. Manitowoc also provides crane parts, maintenance, technical support, and other aftermarket services to help customers operate and maintain their equipment.
Founded in 1902 in Manitowoc, Wisconsin, the company has developed an international presence serving customers through manufacturing, sales, distribution, and service operations across North America, Europe, Asia, and other global markets.
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