StockNews.com Initiates Coverage on Manitex International (NASDAQ:MNTX)

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

A number of other research firms have also weighed in on MNTX. Northland Securities restated a market perform rating and issued a $5.80 target price (down previously from $8.00) on shares of Manitex International in a report on Friday, September 13th. Northland Capmk lowered Manitex International from a strong-buy rating to a hold rating in a report on Friday, September 13th.

Manitex International Trading Up 0.7 %

Shares of Manitex International stock opened at $5.70 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.67 and a current ratio of 1.55. Manitex International has a 52 week low of $3.07 and a 52 week high of $9.16. The stock has a 50 day moving average price of $4.65 and a two-hundred day moving average price of $5.28. The stock has a market capitalization of $116.28 million, a PE ratio of 12.13 and a beta of 0.76.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MNTX. Pacific Ridge Capital Partners LLC raised its stake in shares of Manitex International by 0.3% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock worth $4,064,000 after purchasing an additional 2,871 shares during the period. Marshall Wace LLP purchased a new stake in Manitex International during the second quarter worth about $128,000. First Eagle Investment Management LLC raised its position in Manitex International by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock worth $1,356,000 after acquiring an additional 8,500 shares during the period. Renaissance Technologies LLC boosted its stake in Manitex International by 13.1% in the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after acquiring an additional 16,433 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its position in shares of 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 valued at $98,000 after acquiring an additional 3,340 shares during the period. 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.