Manitowoc (NYSE:MTW) Stock Passes Above 200 Day Moving Average – Here’s What Happened

The Manitowoc Company, Inc. (NYSE:MTW)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.78 and traded as high as $10.87. Manitowoc shares last traded at $10.65, with a volume of 265,096 shares trading hands.

Analyst Upgrades and Downgrades

MTW has been the topic of a number of research reports. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird cut their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Manitowoc presently has a consensus rating of “Hold” and a consensus price target of $11.76.

Manitowoc Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The stock has a market cap of $373.93 million, a PE ratio of 6.87 and a beta of 1.83. The business has a 50 day moving average price of $9.59 and a two-hundred day moving average price of $9.78.

Manitowoc (NYSE:MTW) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Manitowoc had a net margin of 2.56% and a return on equity of 2.46%. Research analysts expect that The Manitowoc Company, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Manitowoc

Several institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC grew its position in Manitowoc by 10.0% in the fourth quarter. LPL Financial LLC now owns 11,374 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 1,030 shares in the last quarter. US Bancorp DE lifted its stake in Manitowoc by 88.1% during the third quarter. US Bancorp DE now owns 2,834 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,327 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Manitowoc by 0.5% in the 4th quarter. Northern Trust Corp now owns 304,363 shares of the industrial products company’s stock worth $2,779,000 after purchasing an additional 1,552 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Manitowoc by 20.9% during the 4th quarter. Quantbot Technologies LP now owns 10,257 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,771 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Manitowoc by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 15,359 shares of the industrial products company’s stock valued at $140,000 after buying an additional 1,944 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.