Manitex International Inc. (NASDAQ:MNTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
An institutional investor recently raised its position in Manitex International stock. Essex Investment Management Co. LLC increased its stake in shares of Manitex International Inc. (NASDAQ:MNTX) by 44.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,661 shares of the company’s stock after buying an additional 27,434 shares during the period. Essex Investment Management Co. LLC owned approximately 0.56% of Manitex International worth $621,000 as of its most recent filing with the SEC.
Manitex International (NASDAQ:MNTX) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company earned $102.36 million during the quarter, compared to analysts’ expectations of $93.85 million. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. Analysts expect that Manitex International will post $0.13 EPS for the current year.
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.
