Fintel reports that on July 18, 2023, Citigroup maintained coverage of Manitowoc (NYSE:MTW) with a Neutral recommendation.
Analyst Price Forecast Suggests 6.90% Downside
As of July 6, 2023, the average one-year price target for Manitowoc is 18.25. The forecasts range from a low of 15.15 to a high of $23.10. The average price target represents a decrease of 6.90% from its latest reported closing price of 19.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Manitowoc is 1,946MM, a decrease of 6.52%. The projected annual non-GAAP EPS is 0.52.
What is the Fund Sentiment?
There are 362 funds or institutions reporting positions in Manitowoc. This is an increase of 25 owner(s) or 7.42% in the last quarter. Average portfolio weight of all funds dedicated to MTW is 0.13%, an increase of 20.96%. Total shares owned by institutions increased in the last three months by 4.76% to 32,899K shares. 
The put/call ratio of MTW is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Front Street Capital Management holds 2,557K shares representing 7.28% ownership of the company. In it's prior filing, the firm reported owning 2,604K shares, representing a decrease of 1.87%. The firm increased its portfolio allocation in MTW by 64.33% over the last quarter.
Invesco holds 1,179K shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 1,274K shares, representing a decrease of 8.04%. The firm increased its portfolio allocation in MTW by 64.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,084K shares representing 3.08% ownership of the company. No change in the last quarter.
TARKX - Tarkio Fund holds 1,051K shares representing 2.99% ownership of the company. No change in the last quarter.
VSCAX - Invesco Small Cap Value Fund holds 1,031K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 1,081K shares, representing a decrease of 4.85%. The firm increased its portfolio allocation in MTW by 16.46% over the last quarter.
Manitowoc Background Information
(This description is provided by the company.)
The Manitowoc Company, Inc. ('Manitowoc') was founded in 1902 and has over a 117-year tradition of providing high-quality, customer-focused products and support services to its markets, and its 2019 net sales were approximately $1.83 billion. Manitowoc is one of the world's leading providers of engineered lifting solutions. Manitowoc, through its wholly-owned subsidiaries, designs, manufactures, markets, and supports comprehensive product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks under the Grove, Manitowoc, National Crane, Potain, Shuttlelift and Manitowoc Crane Care brand names.
Additional reading:
- The Manitowoc Company Reports First-Quarter 2023 Financial Results
- GENDER DIVERSITY DIRECTOR INDEPENDENCE 3 of 9 are female 8 or 9 are independent ETHNIC DIVERSITY CEO EXPERIENCE 2 of 9 are ethnically diverse 6 of 9 have CEO experience
- March 2023 Aaron Ravenscroft President & CEO Brian Regan EVP & CFO Ion Warner SVP Marketing & Investor Relations
- Subsidiaries of The Manitowoc Company, Inc.
- The Manitowoc Company Reports Fourth-Quarter and Full-Year 2022 Financial Results and Full-Year 2023 Guidance
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
