Fintel reports that on September 22, 2023, Citigroup maintained coverage of Manitowoc (NYSE:MTW) with a Neutral recommendation.
Analyst Price Forecast Suggests 33.87% Upside
As of August 31, 2023, the average one-year price target for Manitowoc is 19.95. The forecasts range from a low of 15.15 to a high of $24.15. The average price target represents an increase of 33.87% from its latest reported closing price of 14.90.
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The projected annual revenue for Manitowoc is 1,946MM, a decrease of 11.04%. The projected annual non-GAAP EPS is 0.52.
What is the Fund Sentiment?
There are 368 funds or institutions reporting positions in Manitowoc. This is an increase of 4 owner(s) or 1.10% in the last quarter. Average portfolio weight of all funds dedicated to MTW is 0.14%, an increase of 8.38%. Total shares owned by institutions decreased in the last three months by 1.51% to 32,291K shares. 
The put/call ratio of MTW is 1.02, indicating a bearish outlook.
What are Other Shareholders Doing?
Front Street Capital Management holds 2,495K shares representing 7.12% ownership of the company. In it's prior filing, the firm reported owning 2,557K shares, representing a decrease of 2.47%. The firm increased its portfolio allocation in MTW by 5.34% over the last quarter.
Invesco holds 1,098K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 1,179K shares, representing a decrease of 7.46%. The firm increased its portfolio allocation in MTW by 940.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,084K shares representing 3.09% ownership of the company. No change in the last quarter.
TARKX - Tarkio Fund holds 1,051K shares representing 3.00% ownership of the company. No change in the last quarter.
VSCAX - Invesco Small Cap Value Fund holds 1,031K shares representing 2.94% 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.
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