Manitex International (NASDAQ:MNTX) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a report released on Sunday. The firm issued a hold rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. Northland Securities reiterated a “market perform” rating and issued a $5.80 target price (down from $8.00) on shares of Manitex International in a research report on Friday, September 13th. Northland Capmk downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th.

Manitex International Price Performance

MNTX stock opened at $5.70 on Friday. Manitex International has a 1-year low of $3.07 and a 1-year high of $9.16. The business has a fifty day moving average price of $5.31 and a 200-day moving average price of $5.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.55 and a quick ratio of 0.67. The stock has a market capitalization of $116.28 million, a P/E ratio of 10.96 and a beta of 0.77.

Manitex International (NASDAQ:MNTX) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. The business had revenue of $76.24 million during the quarter, compared to analyst estimates of $75.23 million. Equities analysts forecast that Manitex International will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. grew its position in Manitex International by 17.8% during the 2nd 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 2nd quarter worth about $128,000. O Shaughnessy Asset Management LLC grew its position in Manitex International by 20.3% during the 1st 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 position in Manitex International by 2,049.4% during the 1st 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, Empowered Funds LLC acquired a new stake in Manitex International during the 3rd quarter worth about $480,000. Hedge funds and other institutional investors 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.