Manitowoc (NYSE:MTW) Shares Cross Above 200 Day Moving Average – Time to Sell?

The Manitowoc Company, Inc. (NYSE:MTW) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $10.44 and traded as high as $10.96. Manitowoc shares last traded at $10.96, with a volume of 215,125 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on MTW. Robert W. Baird cut their price target on shares of Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manitowoc in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Barclays boosted their target price on shares of Manitowoc from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, July 21st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $10.67.

Manitowoc Price Performance

The firm has a market cap of $388.64 million, a P/E ratio of 8.77 and a beta of 2.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 0.68. The company’s 50-day moving average is $10.07 and its two-hundred day moving average is $10.44.

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

Institutional Investors Weigh In On Manitowoc

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Manitowoc by 3,309.6% during the 1st quarter. GAMMA Investing LLC now owns 12,138 shares of the industrial products company’s stock valued at $104,000 after buying an additional 11,782 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Manitowoc by 3.8% during the first quarter. Isthmus Partners LLC now owns 193,640 shares of the industrial products company’s stock valued at $1,663,000 after acquiring an additional 7,128 shares in the last quarter. TCW Group Inc. raised its holdings in shares of Manitowoc by 2.9% during the first quarter. TCW Group Inc. now owns 58,949 shares of the industrial products company’s stock valued at $506,000 after acquiring an additional 1,671 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Manitowoc by 272.9% in the first quarter. GSA Capital Partners LLP now owns 240,327 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 175,879 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 worth $4,002,000 after purchasing an additional 64,983 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

About Manitowoc

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.