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

Research analysts at StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a report released on Friday. The brokerage set a “hold” rating on the industrial products company’s stock.

A number of other research firms have also recently commented on MNTX. Northland Securities reaffirmed a “market perform” rating and issued a $5.80 price target (down previously from $8.00) on shares of Manitex International in a report on Friday, September 13th. Northland Capmk cut Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th.

Manitex International Stock Performance

Shares of Manitex International stock opened at $5.70 on Friday. The business’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $5.20. 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 has a 12 month low of $3.07 and a 12 month high of $9.16. The firm has a market capitalization of $116.07 million, a P/E ratio of 12.13 and a beta of 0.76.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in Manitex International during the 2nd quarter valued at 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 worth $1,356,000 after purchasing an additional 8,500 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Manitex International by 20.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 5,853 shares during the period. 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 valued at $462,000 after purchasing an additional 64,187 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Manitex International during the 1st quarter valued at $128,000. 46.01% of the stock is owned by 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.