Posted by admin on May 31st, 2022
The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 851,400 shares, a decline of 21.2% from the April 30th total of 1,080,000 shares. Based on an average trading volume of 256,800 shares, the short-interest ratio is presently 3.3 days. Currently, 2.5% of the shares of the company are sold short.
Shares of Manitowoc stock traded up $0.07 during trading hours on Tuesday, reaching $13.02. 251,980 shares of the company’s stock were exchanged, compared to its average volume of 286,001. Manitowoc has a 1 year low of $10.87 and a 1 year high of $27.57. The company has a market capitalization of $459.85 million, a P/E ratio of 27.13 and a beta of 2.10. The business has a fifty day moving average of $13.38 and a two-hundred day moving average of $16.50. The company has a quick ratio of 0.61, a current ratio of 1.74 and a debt-to-equity ratio of 0.57.
Manitowoc (NYSE:MTW – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $459.00 million for the quarter, compared to analyst estimates of $440.08 million. Manitowoc had a net margin of 0.94% and a return on equity of 5.14%. The company’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. As a group, research analysts predict that Manitowoc will post 0.87 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Keybank National Association OH boosted its position in shares of Manitowoc by 33.1% during the 4th quarter. Keybank National Association OH now owns 19,300 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 4,800 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Manitowoc during the 3rd quarter valued at about $99,000. Invesco Ltd. boosted its position in shares of Manitowoc by 48.0% during the 3rd quarter. Invesco Ltd. now owns 1,799,101 shares of the industrial products company’s stock valued at $38,537,000 after acquiring an additional 583,619 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Manitowoc during the 3rd quarter valued at about $1,019,000. Finally, Strs Ohio boosted its position in shares of Manitowoc by 12.8% during the 4th quarter. Strs Ohio now owns 44,100 shares of the industrial products company’s stock valued at $819,000 after acquiring an additional 5,000 shares during the last quarter. 76.36% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Manitowoc from $20.00 to $17.50 and set a “neutral” rating for the company in a research note on Thursday, April 14th. Zacks Investment Research cut shares of Manitowoc from a “hold” rating to a “strong sell” rating and set a $11.00 price objective for the company. in a research note on Monday, May 9th. Citigroup decreased their target price on shares of Manitowoc from $18.50 to $12.50 in a research note on Thursday, May 12th. StockNews.com began coverage on shares of Manitowoc in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Robert W. Baird decreased their target price on shares of Manitowoc from $16.00 to $15.00 in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.14.
Manitowoc Company Profile (Get Rating)
The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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.
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