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

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

MNTX has been the subject of a number of other research reports. Northland Securities reissued 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. Northland Capmk downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th.

Manitex International Price Performance

MNTX stock opened at $5.70 on Friday. The company has a market cap of $116.07 million, a price-to-earnings ratio of 12.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.67 and a current ratio of 1.55. The business’s 50-day moving average is $5.07 and its two-hundred day moving average is $5.17. Manitex International has a fifty-two week low of $3.07 and a fifty-two week high of $9.16.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $76.24 million for 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%. As a group, analysts forecast that Manitex International will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Manitex International

Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP purchased a new position in shares of Manitex International during the second quarter valued at about $128,000. First Eagle Investment Management LLC increased 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 acquiring an additional 8,500 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Manitex International by 20.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 5,853 shares in the last quarter. Russell Investments Group Ltd. boosted 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 acquiring an additional 64,187 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Manitex International in the first quarter valued at $128,000. 46.01% of the stock is owned by hedge funds and other 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.