Manitowoc (NYSE:MTW) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of The Manitowoc Company, Inc. (NYSE:MTW – Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.71 and traded as high as $22.44. Manitowoc shares last traded at $22.4060, with a volume of 360,053 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on MTW. Wall Street Zen cut shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Barclays reaffirmed an “underweight” rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a research note on Monday, August 10th. Finally, Wells Fargo & Company upped their price objective on Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Sell” and an average target price of $14.00.

Get Our Latest Analysis on Manitowoc

Manitowoc Price Performance

The firm has a market cap of $774.64 million, a price-to-earnings ratio of 39.06 and a beta of 1.74. The company’s fifty day moving average is $21.02 and its 200 day moving average is $15.75. The company has a quick ratio of 0.75, a current ratio of 2.11 and a debt-to-equity ratio of 0.66.

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, beating the consensus estimate of $0.11 by $0.35. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The firm had revenue of $594.90 million for the quarter, compared to analyst estimates of $564.00 million. During the same period in the previous year, the business earned $0.08 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, equities research analysts predict that The Manitowoc Company, Inc. will post 1.00 EPS for the current year.

Institutional Trading of Manitowoc

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Front Street Capital Management Inc. acquired a new position in shares of Manitowoc during the 2nd quarter worth approximately $44,547,000. Bank of New York Mellon Corp bought a new stake in shares of Manitowoc during the 2nd quarter worth approximately $1,717,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 buying an additional 108,347 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 buying an additional 63,215 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Manitowoc by 170.6% in the fourth 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 in the last quarter. Institutional investors own 78.66% of the company’s stock.

About Manitowoc

(Get Free Report)

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of lifting equipment used in construction, infrastructure development, energy, and industrial applications. The company designs and produces a broad range of cranes, including mobile hydraulic cranes, crawler cranes, tower cranes, boom trucks, and related lifting solutions.

Manitowoc markets its products under well-known brands such as Manitowoc, Grove, Potain, National Crane, and Shuttlelift. Its offerings include cranes for assembling and servicing buildings, bridges, power facilities, industrial plants, and other large-scale projects.

Further Reading

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