Manitowoc (NYSE:MTW) Price Target Lowered to $11.00 at Barclays

Manitowoc (NYSE:MTW) had its target price reduced by Barclays from $13.00 to $11.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the industrial products company’s stock.

Several other analysts have also recently commented on the stock. Weiss Ratings cut shares of Manitowoc from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Wall Street Zen cut Manitowoc from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $10.00 price objective (up from $9.00) on shares of Manitowoc in a research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $10.50.

Manitowoc Price Performance

NYSE:MTW opened at $12.09 on Wednesday. Manitowoc has a 12-month low of $7.06 and a 12-month high of $15.56. The firm has a market cap of $434.30 million, a price-to-earnings ratio of 63.66 and a beta of 1.82. The company’s 50-day moving average is $13.42 and its two-hundred day moving average is $12.18. The company has a current ratio of 2.23, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $677.10 million for the quarter, compared to analysts’ expectations of $637.00 million. Manitowoc had a return on equity of 1.71% and a net margin of 0.32%.The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS. Research analysts expect that Manitowoc will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Manitowoc

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its stake in Manitowoc by 170.6% during the fourth quarter. Hsbc Holdings PLC now owns 69,393 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 43,753 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Manitowoc by 135.6% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 42,904 shares of the industrial products company’s stock valued at $514,000 after buying an additional 24,696 shares during the period. 9823 Capital L.P. acquired a new stake in shares of Manitowoc during the 4th quarter worth $179,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Manitowoc during the 4th quarter worth $294,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Manitowoc in the 4th quarter worth $1,449,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

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.