Manitex International (NASDAQ:MNTX) Cut to Hold at Northland Capmk

Northland Capmk lowered shares of Manitex International (NASDAQ:MNTX) from a strong-buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports.

Several other brokerages also recently commented on MNTX. StockNews.com downgraded Manitex International from a buy rating to a hold rating in a research note on Thursday, August 8th. Northland Securities restated a market perform rating and set a $5.80 price objective (down from $8.00) on shares of Manitex International in a research report on Friday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Manitex International presently has a consensus rating of Hold and a consensus price target of $6.90.

Manitex International Stock Performance

Shares of MNTX stock opened at $5.62 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.55 and a quick ratio of 0.67. The firm has a market cap of $114.65 million, a P/E ratio of 11.96 and a beta of 0.75. Manitex International has a fifty-two week low of $3.07 and a fifty-two week high of $9.16. The stock’s 50-day moving average is $4.37 and its two-hundred day moving average is $5.38.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.11 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 company had revenue of $76.24 million during the quarter, compared to analysts’ expectations of $75.23 million. Analysts predict that Manitex International will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manitex International

Several large investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC grew its stake in Manitex International by 0.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock valued at $4,064,000 after purchasing an additional 2,871 shares during the last quarter. Marshall Wace LLP acquired a new position in Manitex International in the 2nd quarter worth about $128,000. First Eagle Investment Management LLC lifted its stake in Manitex International by 2.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 8,500 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Manitex International by 13.1% in the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock worth $629,000 after buying an additional 16,433 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. raised its holdings in shares of Manitex International by 17.8% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock worth $98,000 after acquiring an additional 3,340 shares during the period. 46.01% of the stock is owned by institutional investors.

Manitex International Company Profile

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.