Manitex International (MNTX) Rating Increased to Strong-Buy at Zacks Investment Research

Manitex International (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday. The firm currently has a $10.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.38% from the stock’s current price.

According to Zacks, “MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Their boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. “

Separately, Roth Capital downgraded shares of Manitex International from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Tuesday, November 7th.

Manitex International (NASDAQ:MNTX) traded up $0.29 during mid-day trading on Wednesday, hitting $9.40. 80,900 shares of the company’s stock were exchanged, compared to its average volume of 77,731. Manitex International has a one year low of $6.21 and a one year high of $9.89. The company has a market cap of $150.83, a P/E ratio of 56.94 and a beta of 2.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTX. Wedbush Securities Inc. raised its holdings in shares of Manitex International by 35.0% in the 2nd quarter. Wedbush Securities Inc. now owns 14,658 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 3,800 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Manitex International in the 2nd quarter worth approximately $105,000. Trexquant Investment LP bought a new stake in shares of Manitex International in the 2nd quarter worth approximately $106,000. OxFORD Asset Management LLP bought a new stake in shares of Manitex International in the 3rd quarter worth approximately $189,000. Finally, Algert Global LLC bought a new stake in shares of Manitex International in the 3rd quarter worth approximately $243,000. Institutional investors and hedge funds own 65.29% of the company’s stock.

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Manitex International Company Profile

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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