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

StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued to investors on Sunday morning. The brokerage issued a hold rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on MNTX. Northland Capmk downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th. Northland Securities reaffirmed 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.

Manitex International Stock Performance

Shares of NASDAQ:MNTX 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 firm has a market capitalization of $116.28 million, a price-to-earnings ratio of 10.96 and a beta of 0.77. 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 business’s 50 day moving average price is $5.31 and its 200-day moving average price is $5.17.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings data 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. On average, equities research 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Cutter & CO Brokerage Inc. lifted its stake in Manitex International by 17.8% during the second 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 last quarter. Marshall Wace LLP purchased a new stake in Manitex International in the second quarter valued at approximately $128,000. O Shaughnessy Asset Management LLC lifted its stake in Manitex International by 20.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock valued at $237,000 after buying an additional 5,853 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Manitex International by 2,049.4% in the first quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock valued at $462,000 after buying an additional 64,187 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Manitex International in the third quarter valued at approximately $480,000. 46.01% of the stock is owned by institutional investors and hedge funds.

About Manitex International

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.