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Manitowoc (MTW) Is Water-Logged And Getting Wetter Today

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Manitowoc (MTW) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Manitowoc as such a stock due to the following factors:

  • MTW has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $54.6 million.
  • MTW has traded 6.3 million shares today.
  • MTW traded in a range 206.1% of the normal price range with a price range of $1.87.
  • MTW traded below its daily resistance level (quality: 24 days, meaning that the stock is crossing a resistance level set by the last 24 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on MTW:

The Manitowoc Company, Inc. designs, manufactures, and sells cranes and related products, and foodservice equipment worldwide. It operates in two segments, Cranes and Related Products, and Foodservice Equipment. The stock currently has a dividend yield of 0.2%. MTW has a PE ratio of 28.6. Currently there are 5 analysts that rate Manitowoc a buy, 1 analyst rates it a sell, and 7 rate it a hold.

The average volume for Manitowoc has been 2.4 million shares per day over the past 30 days. Manitowoc has a market cap of $4.3 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 3.83 and a short float of 8.8% with 4.88 days to cover. Shares are up 36.3% year-to-date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Manitowoc as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • Compared to its closing price of one year ago, MTW's share price has jumped by 70.70%, exceeding the performance of the broader market during that same time frame. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Machinery industry and the overall market, MANITOWOC CO's return on equity exceeds that of both the industry average and the S&P 500.
  • Net operating cash flow has increased to $270.50 million or 15.99% when compared to the same quarter last year. Despite an increase in cash flow, MANITOWOC CO's cash flow growth rate is still lower than the industry average growth rate of 32.66%.
  • MANITOWOC CO's earnings per share declined by 30.8% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, MANITOWOC CO increased its bottom line by earning $1.14 versus $0.77 in the prior year. This year, the market expects an improvement in earnings ($1.70 versus $1.14).
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 6.1%. Since the same quarter one year prior, revenues slightly dropped by 2.3%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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