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

Stock analysts at StockNews.com initiated coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the industrial products company’s stock.

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

Manitex International Stock Performance

MNTX stock opened at $5.66 on Wednesday. The stock has a market cap of $115.46 million, a price-to-earnings ratio of 12.04 and a beta of 0.75. The business’s 50-day moving average is $4.64 and its 200 day moving average is $5.30. Manitex International has a 12-month low of $3.07 and a 12-month high of $9.16. 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 released its 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 business had revenue of $76.24 million for the quarter, compared to analyst estimates of $75.23 million. On average, sell-side analysts anticipate that Manitex International will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Manitex International

A number of hedge funds have recently bought and sold shares of MNTX. Pacific Ridge Capital Partners LLC grew its holdings in Manitex International by 0.3% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock worth $4,064,000 after acquiring an additional 2,871 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Manitex International by 1.5% during 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 purchasing an additional 4,666 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Manitex International by 2.9% in the second 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 during the last quarter. Ancora Advisors LLC raised its stake in 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. Finally, Renaissance Technologies LLC raised its stake in Manitex International by 13.1% in the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after buying an additional 16,433 shares in the last quarter. Institutional investors and hedge funds 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.