Manitex International (NASDAQ:MNTX) Downgraded by Northland Capmk

Northland Capmk cut shares of Manitex International (NASDAQ:MNTX) from a strong-buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. 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. StockNews.com lowered shares of Manitex International from a buy rating to a hold rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $6.90.

Manitex International Price Performance

Shares of NASDAQ MNTX opened at $5.62 on Friday. The firm’s 50-day moving average price is $4.40 and its 200-day moving average price is $5.37. 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 $114.45 million, a P/E ratio of 11.96 and a beta of 0.75. The company has a current ratio of 1.55, a quick ratio of 0.67 and a debt-to-equity ratio of 0.78.

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, topping analysts’ consensus estimates of $0.08 by $0.03. Manitex International had a net margin of 3.56% and a return on equity of 18.79%. The company had revenue of $76.24 million for the quarter, compared to analyst estimates of $75.23 million. Equities research analysts anticipate that Manitex International will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Manitex International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Manitex International in the 4th quarter valued at about $27,000. Cutter & CO Brokerage Inc. purchased a new stake in Manitex International in the 1st quarter valued at about $128,000. Marshall Wace LLP purchased a new stake in Manitex International in the 2nd quarter valued at about $128,000. O Shaughnessy Asset Management LLC increased its stake in Manitex International by 20.3% in the 1st 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. Finally, Renaissance Technologies LLC increased its stake in Manitex International by 13.1% in the 2nd quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after buying an additional 16,433 shares during the last quarter. Hedge funds and other institutional investors own 46.01% of the company’s stock.

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.