Manitex International (NASDAQ:MNTX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on MNTX. Northland Securities reissued a market perform rating and issued a $5.80 price objective (down from $8.00) on shares of Manitex International in a research report on Friday, September 13th. Northland Capmk cut shares of Manitex International from a strong-buy rating to a hold rating in a report on Friday, September 13th.

Manitex International Trading Down 0.4 %

Manitex International stock opened at $5.63 on Tuesday. The stock has a 50-day simple moving average of $4.56 and a 200 day simple moving average of $5.33. The stock has a market capitalization of $114.85 million, a P/E ratio of 11.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.67 and a current ratio of 1.55. Manitex International has a 52 week low of $3.07 and a 52 week high of $9.16.

Manitex International (NASDAQ:MNTX) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. The company had revenue of $76.24 million during the quarter, compared to the consensus estimate of $75.23 million. Analysts expect that Manitex International will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. bought a new stake in shares of Manitex International in the first quarter valued at about $128,000. Essex Investment Management Co. LLC raised its stake in Manitex International by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 307,868 shares of the industrial products company’s stock worth $2,112,000 after purchasing an additional 4,666 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Manitex International by 2,049.4% during the 1st quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 64,187 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Manitex International by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 5,853 shares during the period. Finally, Ancora Advisors LLC raised its position in shares of Manitex International by 95.1% in the first quarter. Ancora Advisors LLC now owns 172,429 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 84,029 shares in the last quarter. Institutional investors own 46.01% of the company’s stock.

About Manitex International

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.