Manitowoc (NYSE:MTW) Raised to “Buy” at Wall Street Zen

Manitowoc (NYSE:MTW) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Manitowoc in a report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus price target of $10.33.

Manitowoc Stock Performance

Shares of MTW stock opened at $18.84 on Friday. Manitowoc has a 12-month low of $9.09 and a 12-month high of $19.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.10 and a quick ratio of 0.72. The firm has a market capitalization of $676.47 million, a price-to-earnings ratio of 34.25 and a beta of 1.72. The business has a 50 day simple moving average of $13.24 and a 200 day simple moving average of $13.12.

Manitowoc (NYSE:MTW) last announced its earnings results on Thursday, August 6th. The industrial products company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.35. Manitowoc had a return on equity of 3.88% and a net margin of 0.87%.The firm had revenue of $594.90 million for the quarter, compared to the consensus estimate of $564.00 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, equities research analysts anticipate that Manitowoc will post 0.68 EPS for the current year.

Insiders Place Their Bets

In other Manitowoc news, Director Kenneth W. Krueger sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $11.80, for a total value of $106,200.00. Following the completion of the sale, the director directly owned 162,672 shares of the company’s stock, valued at approximately $1,919,529.60. This represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.96% of the company’s stock.

Hedge Funds Weigh In On Manitowoc

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in Manitowoc during the second quarter valued at approximately $1,717,000. Assenagon Asset Management S.A. boosted its holdings in Manitowoc by 100.2% during the second quarter. Assenagon Asset Management S.A. now owns 126,284 shares of the industrial products company’s stock worth $1,754,000 after buying an additional 63,215 shares in the last quarter. Front Street Capital Management Inc. grew its position in Manitowoc by 1.8% in the first quarter. Front Street Capital Management Inc. now owns 3,321,784 shares of the industrial products company’s stock worth $38,699,000 after buying an additional 57,761 shares during the last quarter. Royal Bank of Canada grew its position in Manitowoc by 55.1% in the first quarter. Royal Bank of Canada now owns 84,508 shares of the industrial products company’s stock worth $984,000 after buying an additional 30,019 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Manitowoc by 8.6% in the first quarter. Empowered Funds LLC now owns 224,437 shares of the industrial products company’s stock valued at $2,615,000 after buying an additional 17,694 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

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.