Shares of Manitowoc (MTW, Financial) experienced a notable increase, climbing by 5.05% to $10.30 with a trading volume of 296,477 shares, reflecting a turnover rate of 0.84% and a volatility of 5.41%. The company recently reported earnings with a revenue of $562 million and a net profit of $1.60 million, translating to an EPS of $0.05 and a gross profit of $99.30 million. The price-to-earnings ratio stands at 44.65.
In terms of analyst ratings, out of six firms covering Manitowoc, 17% recommend buying, 50% suggest holding, and 33% advise selling. Within the industrial distribution sector, where Manitowoc operates, the overall industry has seen a decline of 0.84%. However, Manitowoc, along with companies like Astec Industries and Prologis, have posted substantial gains.
Other stocks in the sector, such as Nikola, CEA Industries Inc., and Terex, showed significant trading activity. Notable shares with high volatility included Xos Inc C/Wts (To Pur Com), CEA Industries Inc., and Columbus McKinnon, with respective volatility rates of 25.00%, 12.46%, and 7.94%.
Manitowoc specializes in engineering crane solutions, designing and manufacturing a variety of cranes, such as mobile telescopic, tower, lattice boom crawler cranes, and boom trucks. Brands under its umbrella include Grove, National Crane, Potain, Shuttlelift, and Manitowoc Crane Care. Their cranes serve multiple markets, including energy, petrochemical, industrial, infrastructure, and construction sectors. Manitowoc’s operations are divided into three regions: Americas, Europe and Africa, and the Middle East and Asia Pacific, with the Americas generating the bulk of its revenue.
