Manitex International (NASDAQ:MNTX) Receives “Market Perform” Rating from Northland Securities

Manitex International (NASDAQ:MNTX)‘s stock had its “market perform” rating reaffirmed by analysts at Northland Securities in a research report issued on Friday, Marketbeat reports. They presently have a $5.80 price objective on the industrial products company’s stock, down from their previous price objective of $8.00. Northland Securities’ price target suggests a potential upside of 3.20% from the company’s previous close.

Separately, StockNews.com cut Manitex International from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Manitex International has an average rating of “Hold” and an average target price of $6.90.

Manitex International Stock Down 0.2 %

Shares of NASDAQ:MNTX opened at $5.62 on Friday. The stock’s 50-day moving average price is $4.37 and its 200-day moving average price is $5.39. Manitex International has a 12-month low of $3.07 and a 12-month high of $9.16. The stock has a market capitalization of $114.65 million, a P/E ratio of 11.96 and a beta of 0.75. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 0.78.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. The firm had revenue of $76.24 million for the quarter, compared to analysts’ expectations of $75.23 million. On average, equities analysts anticipate that Manitex International will post 0.33 earnings per share for the current year.

Institutional Trading of Manitex International

A number of institutional investors have recently modified their holdings of the company. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Manitex International by 0.3% during the second quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock worth $4,064,000 after purchasing an additional 2,871 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Manitex International during the fourth quarter worth about $27,000. Cutter & CO Brokerage Inc. lifted its holdings in Manitex International by 17.8% in the second quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock worth $98,000 after buying an additional 3,340 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Manitex International by 1.5% in the first quarter. Essex Investment Management Co. LLC now owns 307,868 shares of the industrial products company’s stock worth $2,112,000 after buying an additional 4,666 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Manitex International by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after buying an additional 5,853 shares during the period. 46.01% of the stock is currently owned by hedge funds and other institutional investors.

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.