Manitowoc (NYSE:MTW) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened
by Doug Wharley · The Cerbat GemThe Manitowoc Company, Inc. (NYSE:MTW – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.36 and traded as high as $13.57. Manitowoc shares last traded at $13.5460, with a volume of 200,915 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on MTW shares. Wells Fargo & Company started coverage on Manitowoc in a research report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a report on Monday, December 22nd. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $10.25.
Get Our Latest Analysis on Manitowoc
Manitowoc Stock Up 1.3%
The stock has a market capitalization of $480.49 million, a price-to-earnings ratio of 8.52 and a beta of 1.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.14 and a quick ratio of 0.66. The firm has a 50-day moving average of $11.89 and a 200 day moving average of $11.36.
Manitowoc (NYSE:MTW – Get Free Report) last announced its quarterly earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. Manitowoc had a net margin of 2.63% and a return on equity of 0.87%. The business had revenue of $354.30 million for the quarter. As a group, sell-side analysts forecast that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.
Institutional Trading of Manitowoc
Several large investors have recently bought and sold shares of MTW. Arrowstreet Capital Limited Partnership grew its stake in Manitowoc by 154.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 340,280 shares of the industrial products company’s stock valued at $4,090,000 after buying an additional 206,313 shares in the last quarter. UBS Group AG boosted its stake in shares of Manitowoc by 86.2% during the third quarter. UBS Group AG now owns 384,062 shares of the industrial products company’s stock valued at $3,844,000 after purchasing an additional 177,823 shares during the period. Acadian Asset Management LLC increased its holdings in Manitowoc by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 250,087 shares of the industrial products company’s stock valued at $2,146,000 after purchasing an additional 140,246 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Manitowoc in the 3rd quarter worth about $1,351,000. Finally, Marshall Wace LLP boosted its stake in Manitowoc by 56.4% during the second quarter. Marshall Wace LLP now owns 371,498 shares of the industrial products company’s stock worth $4,465,000 after acquiring an additional 134,013 shares in the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.
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.