Back to top

Analyst Blog

Shares of commercial foodservice equipment manufacturer Manitowoc Company, Inc. (MTW - Analyst Report) reached a new 52-week high of $23.04 on Dec 23. Manitowoc has a market cap of $4.8 billion. Average volume of shares traded over the last three months stood at approximately 2.28 million.

Shares of Manitowoc started escalating following its strong third quarter results on Oct 24. Adjusted earnings from continuing operations catapulted an impressive 129% year over year to 39 cents per share helped by sound performance in the Crane segment, successful introduction of new products, as well as Manitowoc’s strategic initiatives. Total revenue was $1014 million in the reported quarter, up 7% year over year driven by increased Crane segment sales.

For full-year 2013, Manitowoc expects sales in Crane segment to rise in mid single-digit growth and Foodservice revenues to increase in modest single  digits. The company forecasts high single-digit improvement in operating margins in the Crane segment and mid-teens gains in the Foodservice segment.

Crane demand is expected to increase significantly, aided by a turnaround in the construction sector. The segment will also be benefited by innovation of new products and services. Growing global energy and power generation investment will drive segment growth. The Foodservice segment will be assisted by new manufacturing facilities and new products. The company also remains focused on cost reduction and improving efficiency, which will help boost its earnings.

Currently, Manitowoc carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the retail sector include Kubota Corporation (KUBTY), H&E Equipment Services Inc. (HEES - Snapshot Report) and Alamo Group, Inc. (ALG - Snapshot Report). While Kubota carries a Zacks Rank #1 (Strong Buy), Alamo Group and H&E Equipment Services hold a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
CITI TRENDS… CTRN 21.53 +5.49%
GTT COMMUNI… GTT 11.65 +4.11%
ALLERGAN IN… AGN 161.82 +3.99%
WILLIAMS(C)… CWEI 117.06 +3.73%
FIRSTSERVIC… FSRV 54.81 +2.62%