Manitex International, Inc. (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, October 17th. The firm presently has a $9.75 price objective on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.29% from the stock’s previous close.
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, ValuEngine upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a research report on Monday, August 7th.
Shares of Manitex International (NASDAQ:MNTX) traded down $0.03 during mid-day trading on Tuesday, hitting $8.84. 16,650 shares of the stock were exchanged, compared to its average volume of 43,913. Manitex International has a 12 month low of $4.98 and a 12 month high of $9.89. The firm has a market capitalization of $146.86, a price-to-earnings ratio of 55.44 and a beta of 2.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64.
Manitex International (NASDAQ:MNTX) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.08. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.50%. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $44.35 million. During the same period in the prior year, the business earned $0.02 earnings per share. Manitex International’s quarterly revenue was up 6.0% on a year-over-year basis. equities research analysts anticipate that Manitex International will post 0.18 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “Manitex International, Inc. (MNTX) Raised to Buy at Zacks Investment Research” was posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://baseballnewssource.com/markets/manitex-international-inc-mntx-lifted-to-buy-at-zacks-investment-research/1721363.html.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. lifted its holdings in Manitex International by 35.0% in the second quarter. Wedbush Securities Inc. now owns 14,658 shares of the industrial products company’s stock valued at $102,000 after buying an additional 3,800 shares during the period. Janney Montgomery Scott LLC acquired a new position in Manitex International in the second quarter valued at approximately $105,000. Trexquant Investment LP acquired a new position in Manitex International in the second quarter valued at approximately $106,000. KCG Holdings Inc. acquired a new position in Manitex International in the first quarter valued at approximately $114,000. Finally, Manatuck Hill Partners LLC acquired a new position in Manitex International in the second quarter valued at approximately $524,000. Institutional investors and hedge funds own 61.01% of the company’s stock.
About Manitex International
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Manitex International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitex International Inc. and related companies with our FREE daily email newsletter.