The Manitowoc Company, Inc. (MTW) was a big mover last session, as the company saw its shares rise roughly 9% on the day. Shares were up after activist investor Carl Icahn announced a 7.7% stake in Manitowoc and his plans to split the company into two. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 37.29% since Dec 16.
None of the estimates for this machinery industry stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the past same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
The Manitowoc Company has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
However, one stock worth considering in the wider industrial products sector is Alamo Group, Inc. (ALG), sporting a Zacks Rank #1 (Strong Buy).
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