Manitowoc (NYSE:MTW) Price Target Raised to $12.00

Manitowoc (NYSE:MTW) had its price objective increased by Wells Fargo & Company from $10.00 to $12.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

Several other brokerages have also issued reports on MTW. Wall Street Zen upgraded shares of Manitowoc from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Barclays reaffirmed an “underweight” rating and issued a $16.00 price target (up from $11.00) on shares of Manitowoc in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Manitowoc presently has a consensus rating of “Sell” and a consensus target price of $14.00.

Manitowoc Trading Down 0.8%

Shares of NYSE:MTW opened at $20.70 on Thursday. Manitowoc has a 1 year low of $9.09 and a 1 year high of $21.34. The firm has a market capitalization of $746.48 million, a price-to-earnings ratio of 37.64 and a beta of 1.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.72. The business’s 50 day moving average price is $14.04 and its 200-day moving average price is $13.36.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.11 by $0.35. The company had revenue of $594.90 million during the quarter, compared to analyst estimates of $564.00 million. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. On average, equities research analysts forecast that Manitowoc will post 0.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kenneth W. Krueger sold 9,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $11.80, for a total transaction of $106,200.00. Following the completion of the sale, the director owned 162,672 shares of the company’s stock, valued at $1,919,529.60. This represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Manitowoc

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in Manitowoc by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 23,090 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 696 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Manitowoc by 5.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 32,187 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 1,594 shares during the last quarter. Deutsche Bank AG lifted its stake in Manitowoc by 6.4% in 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 in the last quarter. Intech Investment Management LLC lifted its stake in Manitowoc by 20.9% in 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings 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. 78.66% of the stock is owned by hedge funds and other institutional investors.

About Manitowoc

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.