StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX – Free Report) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the industrial products company’s stock.
A number of other brokerages also recently issued reports on MNTX. Northland Capmk downgraded Manitex International from a strong-buy rating to a hold rating in a research report on Friday, September 13th. Northland Securities restated a market perform rating and set a $5.80 price objective (down from $8.00) on shares of Manitex International in a research report on Friday, September 13th.
View Our Latest Analysis on Manitex International
Manitex International Price Performance
Manitex International (NASDAQ:MNTX – Get Free Report) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $76.24 million during the quarter, compared to the consensus estimate of $75.23 million. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. Analysts expect that Manitex International will post 0.33 EPS for the current year.
Institutional Investors Weigh In On Manitex International
Large investors have recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. grew its stake in Manitex International by 17.8% during the second quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 3,340 shares during the period. Marshall Wace LLP acquired a new stake in Manitex International during the second quarter worth approximately $128,000. O Shaughnessy Asset Management LLC grew its stake in Manitex International by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 5,853 shares during the period. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 64,187 shares during the period. Finally, Renaissance Technologies LLC grew its stake 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 worth $629,000 after purchasing an additional 16,433 shares during the period. Institutional investors and hedge funds own 46.01% of the company’s stock.
Manitex International Company Profile
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.
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