Manitowoc (NYSE:MTW) Hits New 52-Week High – Here’s Why

Shares of The Manitowoc Company, Inc. (NYSE:MTW) hit a new 52-week high during trading on Friday . The stock traded as high as $21.50 and last traded at $21.40, with a volume of 304043 shares. The stock had previously closed at $20.45.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTW. Barclays reaffirmed an “underweight” rating and issued a $16.00 price objective (up from $11.00) on shares of Manitowoc in a research report on Monday, August 10th. Weiss Ratings raised Manitowoc from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Manitowoc from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Wells Fargo & Company upped their price objective on Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Manitowoc presently has an average rating of “Sell” and a consensus price target of $14.00.

Manitowoc Stock Performance

The company has a market capitalization of $771.68 million, a price-to-earnings ratio of 38.91 and a beta of 1.77. The stock has a 50-day moving average price of $16.07 and a 200-day moving average price of $13.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.35. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The business had revenue of $594.90 million for the quarter, compared to analyst estimates of $564.00 million. During the same quarter in the prior year, the business earned $0.08 EPS. Manitowoc’s quarterly revenue was up 10.3% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.800-1.200 EPS. As a group, analysts forecast that The Manitowoc Company, Inc. will post 1 earnings per share for the current year.

Hedge Funds Weigh In On Manitowoc

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Manitowoc by 19.0% during the 1st quarter. AQR Capital Management LLC now owns 290,452 shares of the industrial products company’s stock worth $2,495,000 after buying an additional 46,324 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Manitowoc by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 273,121 shares of the industrial products company’s stock valued at $2,346,000 after acquiring an additional 56,336 shares during the last quarter. Caxton Associates LLP acquired a new position in Manitowoc during the first quarter worth about $112,000. Empowered Funds LLC lifted its holdings in shares of Manitowoc by 7.3% in the first quarter. Empowered Funds LLC now owns 190,140 shares of the industrial products company’s stock worth $1,633,000 after acquiring an additional 13,001 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Manitowoc by 49.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 364,915 shares of the industrial products company’s stock valued at $4,386,000 after purchasing an additional 120,658 shares in the last quarter. 78.66% of the stock is currently 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.