Manitowoc (NYSE:MTW) Stock Passes Above 200-Day Moving Average – Here’s Why

The Manitowoc Company, Inc. (NYSE:MTW) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.02 and traded as high as $13.85. Manitowoc shares last traded at $13.6640, with a volume of 206,370 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on MTW. Barclays decreased their price objective on Manitowoc from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Wall Street Zen cut shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Manitowoc in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of $10.33.

Manitowoc Price Performance

The company has a current ratio of 2.10, a quick ratio of 0.72 and a debt-to-equity ratio of 0.64. The firm has a market cap of $513.33 million, a P/E ratio of 71.48 and a beta of 1.72. The firm has a 50-day simple moving average of $12.62 and a 200-day simple moving average of $13.04.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($0.13) 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 company had revenue of $494.60 million during the quarter, compared to the consensus estimate of $517.00 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. As a group, analysts forecast that The Manitowoc Company, Inc. will post 0.68 EPS for the current year.

Insider Activity at Manitowoc

In other news, Director Kenneth W. Krueger sold 9,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $11.80, for a total transaction of $106,200.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Manitowoc

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Garner Asset Management Corp acquired a new position in shares of Manitowoc during the fourth quarter valued at about $36,000. Tower Research Capital LLC TRC boosted its stake in Manitowoc by 131.0% in 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 in the last quarter. Quantbot Technologies LP acquired a new stake in Manitowoc in the 3rd quarter worth approximately $47,000. State of Wyoming purchased a new stake in Manitowoc during the 1st quarter worth approximately $62,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Manitowoc during the 2nd quarter worth approximately $84,000. 78.66% of the stock is currently owned by hedge funds and other institutional investors.

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.