Shares of Manitowoc Company (MTW) continue to climb higher midday, notching a fresh intraday highs above $12.70 following a rumor the company could be an LBO candidate. MTW today’s volume is huge: more than 3.8 million shares by 1:08 p.m. ET. Its average daily volume over the last 13 weeks is 2.28 million shares.
MTW currently trades at a forward multiple of 21.05 and a P/E to growth ratio of 11.99. The stock has been moving relatively higher over the past four months, and is presently trading above the 50-day and 200-day moving averages…$11.33, $11.43, respectively.
The equity has gained 23.63% year-to-date, and has been range-bound between $10.75 and $12.00 for the past several weeks.
At last check, MTW shares were up $0.67 to $12.60, a gain of 5.62%.