Manitex International (MNTX) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Manitex International (NASDAQ:MNTX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

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. “

Other analysts have also recently issued reports about the stock. TheStreet upgraded shares of Manitex International from a d rating to a c rating in a research note on Wednesday, August 15th. ValuEngine cut shares of Manitex International from a buy rating to a hold rating in a research report on Saturday, October 6th.

NASDAQ MNTX opened at $7.29 on Friday. Manitex International has a 1 year low of $6.97 and a 1 year high of $13.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.92. The company has a market capitalization of $143.04 million, a price-to-earnings ratio of 22.78 and a beta of 1.33.

Manitex International (NASDAQ:MNTX) last posted its earnings results on Thursday, November 1st. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Manitex International had a negative net margin of 1.28% and a positive return on equity of 6.69%. The business had revenue of $60.94 million for the quarter, compared to analysts’ expectations of $63.10 million. As a group, research analysts forecast that Manitex International will post 0.35 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Manitex International by 1.3% during the 3rd quarter. BlackRock Inc. now owns 719,892 shares of the industrial products company’s stock valued at $7,581,000 after buying an additional 9,453 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Manitex International by 18.8% during the 3rd quarter. Vanguard Group Inc. now owns 715,261 shares of the industrial products company’s stock valued at $7,532,000 after buying an additional 113,430 shares in the last quarter. Cortina Asset Management LLC raised its position in shares of Manitex International by 2.6% during the 2nd quarter. Cortina Asset Management LLC now owns 577,677 shares of the industrial products company’s stock valued at $7,209,000 after buying an additional 14,756 shares in the last quarter. Rutabaga Capital Management LLC MA raised its position in shares of Manitex International by 3.8% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 512,843 shares of the industrial products company’s stock valued at $6,400,000 after buying an additional 18,750 shares in the last quarter. Finally, Manatuck Hill Partners LLC raised its position in shares of Manitex International by 5.4% during the 2nd quarter. Manatuck Hill Partners LLC now owns 387,700 shares of the industrial products company’s stock valued at $4,838,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 56.10% of the company’s stock.

About Manitex International

Manitex International, Inc provides engineered lifting solutions. The company designs, manufactures, and distributes products that are used in various industries. It offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development, including roads, bridges, and commercial construction.

Featured Story: Debt-To-Equity Ratio

Get a free copy of the Zacks research report on Manitex International (MNTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Manitex International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitex International and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit