Barclays Cuts Manitowoc (NYSE:MTW) Price Target to $11.00
by Mitch Edgeman · The Markets Daily
Manitowoc (NYSE:MTW – Free Report) had its price objective lowered by Barclays from $13.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.
Other equities analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Manitowoc from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Wall Street Zen lowered shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $10.00 target price (up from $9.00) on shares of Manitowoc in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of $10.50.
View Our Latest Analysis on MTW
Manitowoc Stock Performance
MTW stock opened at $11.72 on Wednesday. Manitowoc has a 1-year low of $7.06 and a 1-year high of $15.56. The business has a 50-day moving average price of $13.34 and a 200 day moving average price of $12.19. The company has a market capitalization of $420.95 million, a P/E ratio of 61.70 and a beta of 1.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.23 and a quick ratio of 0.84.
Manitowoc (NYSE:MTW – Get Free Report) last issued its earnings results on Monday, February 9th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $677.10 million for the quarter, compared to the consensus estimate of $637.00 million. Manitowoc had a return on equity of 1.71% and a net margin of 0.32%.The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. As a group, equities research analysts forecast that Manitowoc will post 0.5 EPS for the current fiscal year.
Hedge Funds Weigh In On Manitowoc
Several hedge funds and other institutional investors have recently modified their holdings of MTW. Hsbc Holdings PLC grew its position in Manitowoc by 170.6% during the 4th quarter. Hsbc Holdings PLC now owns 69,393 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 43,753 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in shares of Manitowoc by 135.6% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 42,904 shares of the industrial products company’s stock worth $514,000 after buying an additional 24,696 shares during the period. 9823 Capital L.P. acquired a new stake in shares of Manitowoc during the fourth quarter worth $179,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Manitowoc during the fourth quarter valued at $294,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Manitowoc in the 4th quarter valued at $1,449,000. 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.