Manitowoc (NYSE:MTW) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

The Manitowoc Company, Inc. (NYSE:MTW)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.04 and traded as high as $11.15. Manitowoc shares last traded at $11.0850, with a volume of 245,781 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on MTW shares. Wells Fargo & Company initiated coverage on Manitowoc in a report on Thursday, November 13th. They set an “underweight” rating and a $9.00 price objective on the stock. Wall Street Zen raised Manitowoc from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Manitowoc in a report on Wednesday, November 19th. Finally, Robert W. Baird dropped their price objective on Manitowoc from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Manitowoc has an average rating of “Reduce” and a consensus target price of $10.25.

Manitowoc Stock Performance

The stock has a market cap of $393.20 million, a P/E ratio of 8.87 and a beta of 2.15. The stock has a fifty day simple moving average of $10.60 and a 200-day simple moving average of $11.04. The company has a quick ratio of 0.68, a current ratio of 2.07 and a debt-to-equity ratio of 0.67.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Tuesday, June 7th. The industrial products company reported ($0.06) earnings per share for the quarter. Manitowoc had a net margin of 2.11% and a negative return on equity of 0.33%. The firm had revenue of $354.30 million during the quarter. Equities analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitowoc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Manitowoc by 16.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 465,863 shares of the industrial products company’s stock valued at $4,002,000 after purchasing an additional 64,983 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Manitowoc in the 1st quarter valued at approximately $380,000. Boston Partners acquired a new stake in Manitowoc in the 1st quarter valued at approximately $248,000. Russell Investments Group Ltd. lifted its stake in Manitowoc by 779.8% in the 1st quarter. Russell Investments Group Ltd. now owns 163,029 shares of the industrial products company’s stock valued at $1,400,000 after acquiring an additional 144,498 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position 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 worth $2,146,000 after acquiring an additional 140,246 shares during the last quarter. 78.66% of the stock is owned by institutional investors and hedge funds.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.