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

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

MNTX has been the subject of a number of other reports. Northland Securities reissued a “market perform” rating and set a $5.80 target price (down from $8.00) on shares of Manitex International in a research note 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 MNTX opened at $5.66 on Wednesday. The stock has a market capitalization of $115.46 million, a P/E ratio of 12.04 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.67 and a current ratio of 1.55. Manitex International has a 1 year low of $3.07 and a 1 year high of $9.16. The company’s fifty day moving average is $4.64 and its two-hundred day moving average is $5.30.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNTX. Ancora Advisors LLC grew its holdings in shares of Manitex International by 95.1% in the 1st quarter. Ancora Advisors LLC now owns 172,429 shares of the industrial products company’s stock worth $1,183,000 after acquiring an additional 84,029 shares during the period. Russell Investments Group Ltd. grew its holdings in Manitex International by 2,049.4% in the first 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 during the last quarter. Marshall Wace LLP purchased a new position in shares of Manitex International in the second quarter valued at $128,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of Manitex International in the 1st quarter worth about $128,000. Finally, Renaissance Technologies LLC grew its stake in Manitex International by 13.1% in the 2nd quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after acquiring an additional 16,433 shares during the last quarter. 46.01% of the stock is owned by hedge funds and other 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.