The Manitowoc Company, Inc.
) reached a new 52-week high of $24.38 on Jan 8, up from its
previous high of $23.71.
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The stock closed at $23.99 at the end of trading yesterday, with
a solid one-year return of about 45% and a year-to-date return of
about 3%, outperforming the S&P 500. The average volume of
shares traded over the last three months was roughly 2263K.
This Wisconsin-based commercial foodservice equipment
manufacturer has beaten the Zacks Consensus Estimate three times
in the trailing four quarters with an average surprise of 5.92%.
Manitowoc has a market cap of $3.2 billion and long-term expected
earnings growth of 15%.
On Oct 24, Manitowoc reported third-quarter 2013 adjusted
earnings of 39 cents per share, soaring 129% year over year. The
improvement was driven by strong performance by the Crane
segment, successful introduction of new products as well as
execution of Manitowoc's strategic initiatives.
Total revenue also rose 7% year over year to $1,014 million in
the reported quarter, driven by sales growth in the Crane
For full-year 2013, Manitowoc expects revenues in the Crane
segment to rise in mid single-digits and in Foodservice to
increase in modest single-digits. The company forecasts high
single-digit improvement in operating margins in the Crane
segment and mid-teen gains in the Foodservice segment.
Demand in the Crane segment is expected to grow significantly due
to turnaround in the construction sector. The segment will also
be benefited by introduction of new products and services.
Additionally, an increase in global energy and power generation
investment will drive segment growth further.
On the other hand, the Foodservice segment will gain from new
manufacturing facilities and new products. The company also
remains focused on cost reduction and improving efficiency, which
will help boost its earnings.
In addition, Manitowoc remains committed to make investments in
global manufacturing initiatives for the long-term growth. The
company continues to be benefited from product innovation in
Cranes and Foodservice segments. Manitowoc expects to unveil new
products over the next several months, including an array of
technologically advanced products that will premiere at ConExpo
Furthermore, Manitowoc's ongoing ERP deployment initiative will
be fully implemented in 2016 and will provide cost and efficiency
benefits in the long term.
Currently, Manitowoc carries a Zacks Rank #4 (Sell).
Other Stocks to Consider
Some better-ranked stocks in the same sector include
Columbus McKinnon Corporation
). While Kubota holds a Zacks Rank #1 (Strong Buy), Terex and
Columbus McKinnon have a Zacks Rank #2 (Buy).