Manitex International Inc. (MNTX) Upgraded at Zacks Investment Research
Manitex International Inc. (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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, Roth Capital reissued a “buy” rating and set a $7.50 target price on shares of Manitex International in a research note on Monday, August 8th.
Shares of Manitex International (NASDAQ:MNTX) opened at 5.49 on Friday. Manitex International has a 52 week low of $4.25 and a 52 week high of $7.68. The firm has a 50-day moving average of $5.30 and a 200 day moving average of $6.26. The company’s market cap is $88.53 million.
Manitex International (NASDAQ:MNTX) last released its earnings results on Wednesday, November 9th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business earned $74.13 million during the quarter, compared to analysts’ expectations of $83.55 million. Manitex International had a negative net margin of 1.44% and a negative return on equity of 0.65%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. KCG Holdings Inc. acquired a new stake in shares of Manitex International during the third quarter valued at about $105,000. Paradigm Asset Management Co. LLC boosted its stake in shares of Manitex International by 2.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 17,800 shares of the company’s stock valued at $123,000 after buying an additional 400 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Manitex International during the second quarter valued at about $124,000. Bank of New York Mellon Corp boosted its stake in shares of Manitex International by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 17,788 shares of the company’s stock valued at $124,000 after buying an additional 79 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in shares of Manitex International during the second quarter valued at about $222,000. 57.70% of the stock is owned by institutional investors and hedge funds.
Manitex International Company Profile
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.
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