Barclays Issues Pessimistic Forecast for Manitowoc (NYSE:MTW) Stock Price

Manitowoc (NYSE:MTW) had its price objective cut by investment analysts at Barclays from $13.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price objective would indicate a potential downside of 6.17% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of Manitowoc from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 20th. Wall Street Zen cut Manitowoc from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price target (up from $9.00) on shares of Manitowoc in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $10.50.

Manitowoc Price Performance

Shares of MTW stock opened at $11.72 on Wednesday. The company has a market capitalization of $420.97 million, a P/E ratio of 61.70 and a beta of 1.82. The company’s 50-day simple moving average is $13.38 and its two-hundred day simple moving average is $12.18. Manitowoc has a one year low of $7.06 and a one year high of $15.56. 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) last posted its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Manitowoc had a net margin of 0.32% and a return on equity of 1.71%. The company had revenue of $677.10 million for the quarter, compared to the consensus estimate of $637.00 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 13.6% on a year-over-year basis. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. As a group, equities analysts anticipate that Manitowoc will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in Manitowoc by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 23,090 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 696 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Manitowoc by 0.5% in the second quarter. Gamco Investors INC. ET AL now owns 375,209 shares of the industrial products company’s stock valued at $4,510,000 after acquiring an additional 1,900 shares during the period. Deutsche Bank AG lifted its holdings in Manitowoc by 6.4% in the fourth quarter. Deutsche Bank AG now owns 33,847 shares of the industrial products company’s stock valued at $406,000 after acquiring an additional 2,025 shares during the period. Intech Investment Management LLC boosted its position 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, Associated Banc Corp boosted its position in Manitowoc by 13.6% in the 3rd quarter. Associated Banc Corp now owns 20,302 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 2,435 shares in 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.