Zacks: Analysts Set $13.00 Target Price for Manitex International Inc (MNTX)

Manitex International Inc (NASDAQ:MNTX) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports.

Brokers have set a 1-year consensus price objective of $13.00 for the company and are expecting that the company will post $0.08 earnings per share for the current quarter, according to Zacks. Zacks has also given Manitex International an industry rank of 89 out of 255 based on the ratings given to related companies.

A number of equities research analysts have commented on MNTX shares. Zacks Investment Research upgraded Manitex International from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. ValuEngine lowered Manitex International from a “hold” rating to a “sell” rating in a research report on Friday, November 16th.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Manitex International by 0.5% during the 4th quarter. BlackRock Inc. now owns 723,770 shares of the industrial products company’s stock valued at $4,111,000 after purchasing an additional 3,878 shares in the last quarter. First Wilshire Securities Management Inc. boosted its position in shares of Manitex International by 0.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 509,931 shares of the industrial products company’s stock valued at $2,896,000 after purchasing an additional 4,050 shares in the last quarter. Beddow Capital Management Inc. boosted its position in shares of Manitex International by 14.3% during the 4th quarter. Beddow Capital Management Inc. now owns 40,000 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 5,000 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Manitex International by 52.7% during the 4th quarter. Rhumbline Advisers now owns 18,666 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 6,442 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Manitex International by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 166,962 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 6,793 shares in the last quarter. Institutional investors own 54.89% of the company’s stock.

NASDAQ MNTX opened at $7.37 on Wednesday. Manitex International has a 12 month low of $5.00 and a 12 month high of $13.26. The stock has a market capitalization of $144.62 million, a price-to-earnings ratio of 36.85 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.92.

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.

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