Manitex International (NASDAQ:MNTX) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a report released on Friday morning. The firm issued a hold rating on the industrial products company’s stock.

A number of other research firms have also recently weighed in 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 downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 13th.

Manitex International Price Performance

NASDAQ:MNTX opened at $5.70 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 company has a 50 day moving average price of $4.86 and a 200-day moving average price of $5.19. Manitex International has a 1-year low of $3.07 and a 1-year high of $9.16. The firm has a market cap of $116.28 million, a price-to-earnings ratio of 10.96 and a beta of 0.76.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in Manitex International in the 2nd quarter worth about $128,000. First Eagle Investment Management LLC boosted its stake in shares of 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 worth $1,356,000 after acquiring an additional 8,500 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position 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 in the last quarter. Russell Investments Group Ltd. increased its position in shares of Manitex International by 2,049.4% during the first 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. Finally, Cutter & CO Brokerage Inc. acquired a new position in Manitex International in the 1st quarter valued at $128,000. Institutional investors and hedge funds own 46.01% of the company’s stock.

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.