Fintel reports that on May 1, 2023, Wells Fargo upgraded their outlook for Manitowoc (NYSE:MTW) from Underweight to Equal-Weight .
Analyst Price Forecast Suggests 11.18% Upside
As of April 24, 2023, the average one-year price target for Manitowoc is 17.00. The forecasts range from a low of 9.09 to a high of $22.05. The average price target represents an increase of 11.18% from its latest reported closing price of 15.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Manitowoc is 1,946MM, a decrease of 4.26%. The projected annual non-GAAP EPS is 0.52.
What is the Fund Sentiment?
There are 343 funds or institutions reporting positions in Manitowoc. This is an increase of 4 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to MTW is 0.11%, an increase of 31.29%. Total shares owned by institutions decreased in the last three months by 3.97% to 31,390K shares. 
The put/call ratio of MTW is 0.07, indicating a bullish outlook.
What are Other Shareholders Doing?
Front Street Capital Management holds 2,604K shares representing 7.41% ownership of the company. In it's prior filing, the firm reported owning 2,484K shares, representing an increase of 4.61%. The firm increased its portfolio allocation in MTW by 17.62% over the last quarter.
Invesco holds 1,274K shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 1,204K shares, representing an increase of 5.49%. The firm increased its portfolio allocation in MTW by 13.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,084K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 1,083K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in MTW by 9.26% over the last quarter.
VSCAX - Invesco Small Cap Value Fund holds 1,081K shares representing 3.07% ownership of the company. No change in the last quarter.
TARKX - Tarkio Fund holds 1,051K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 1,070K shares, representing a decrease of 1.84%. The firm increased its portfolio allocation in MTW by 67.68% 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.
This story originally appeared on Fintel.
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