Manitex International, Inc. (MNTX) Upgraded at ValuEngine

Manitex International, Inc. (NASDAQ:MNTX) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, August 7th.

Separately, Roth Capital set a $10.00 target price on shares of Manitex International and gave the company a “buy” rating in a research note on Thursday, June 8th.

Manitex International (NASDAQ:MNTX) traded up 2.21% on Monday, hitting $8.33. 83,319 shares of the stock were exchanged. Manitex International has a 12 month low of $4.98 and a 12 month high of $9.89. The firm’s market cap is $137.91 million. The company has a 50-day moving average of $7.46 and a 200 day moving average of $7.38.

Manitex International (NASDAQ:MNTX) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. The company had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $44.35 million. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.50%. Manitex International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.02 earnings per share. Equities research analysts expect that Manitex International will post $0.19 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of MNTX. Renaissance Technologies LLC acquired a new position in shares of Manitex International during the fourth quarter worth approximately $1,119,000. WealthTrust Axiom LLC boosted its position in shares of Manitex International by 12.8% in the first quarter. WealthTrust Axiom LLC now owns 830,262 shares of the industrial products company’s stock worth $5,562,000 after buying an additional 93,996 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Manitex International by 73.5% in the first quarter. Essex Investment Management Co. LLC now owns 173,224 shares of the industrial products company’s stock worth $1,161,000 after buying an additional 73,382 shares during the last quarter. Shaker Investments LLC OH boosted its position in shares of Manitex International by 82.4% in the first quarter. Shaker Investments LLC OH now owns 98,300 shares of the industrial products company’s stock worth $659,000 after buying an additional 44,400 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Manitex International by 41.5% in the first quarter. Boston Partners now owns 530,789 shares of the industrial products company’s stock worth $3,556,000 after buying an additional 155,704 shares during the last quarter. 67.58% of the stock is owned by institutional investors and hedge funds.

About Manitex International

Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.

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