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

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

Other equities analysts have also recently issued research reports about the company. Northland Securities reiterated a “market perform” rating and set a $5.80 target price (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 Price Performance

Shares of MNTX opened at $5.70 on Friday. The stock has a 50 day simple moving average of $5.23 and a 200 day simple moving average of $5.17. Manitex International has a 52-week low of $3.07 and a 52-week high of $9.16. 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 firm has a market capitalization of $116.28 million, a PE ratio of 10.96 and a beta of 0.77.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings results 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. Manitex International had a net margin of 3.56% and a return on equity of 18.79%. The firm had revenue of $76.24 million for the quarter, compared to analyst estimates of $75.23 million. Sell-side analysts predict that Manitex International will post 0.33 EPS for the current fiscal year.

Institutional Trading of Manitex International

A number of institutional investors have recently made changes to their positions in MNTX. Cutter & CO Brokerage Inc. increased its stake in Manitex International by 17.8% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock valued at $98,000 after buying an additional 3,340 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Manitex International in the 2nd quarter valued at about $128,000. O Shaughnessy Asset Management LLC increased its position in shares of Manitex International by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 5,853 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 64,187 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Manitex International by 13.1% during the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 16,433 shares during the last quarter. Institutional investors 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.