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

Equities researchers at StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

MNTX has been the topic of a number of other research reports. Roth Mkm restated a “buy” rating and set a $8.00 price target on shares of Manitex International in a research note on Monday, August 14th. Northland Securities started coverage on shares of Manitex International in a report on Monday, August 14th. They issued an “outperform” rating and a $10.00 target price on the stock.

Manitex International Stock Performance

NASDAQ:MNTX opened at $4.63 on Thursday. Manitex International has a 12 month low of $3.48 and a 12 month high of $6.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.49 and a quick ratio of 0.63. The firm has a market capitalization of $93.76 million, a PE ratio of -51.44 and a beta of 0.70. The business’s fifty day moving average price is $4.96 and its 200 day moving average price is $5.04.

Manitex International (NASDAQ:MNTX) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $73.53 million during the quarter, compared to analysts’ expectations of $71.00 million. Manitex International had a positive return on equity of 8.57% and a negative net margin of 0.85%. On average, sell-side analysts anticipate that Manitex International will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. grew its position in Manitex International by 31.3% during the first quarter. Wedbush Securities Inc. now owns 228,557 shares of the industrial products company’s stock worth $1,191,000 after buying an additional 54,518 shares during the period. Essex Investment Management Co. LLC grew its position in Manitex International by 16.8% during the first quarter. Essex Investment Management Co. LLC now owns 291,807 shares of the industrial products company’s stock worth $1,520,000 after buying an additional 41,893 shares during the period. Cannell Capital LLC grew its position in Manitex International by 10.0% during the fourth quarter. Cannell Capital LLC now owns 419,969 shares of the industrial products company’s stock worth $1,680,000 after buying an additional 38,176 shares during the period. Royce & Associates LP grew its position in Manitex International by 2.6% during the first quarter. Royce & Associates LP now owns 1,467,735 shares of the industrial products company’s stock worth $7,647,000 after buying an additional 37,220 shares during the period. Finally, First Wilshire Securities Management Inc. grew its position in Manitex International by 3.7% during the first quarter. First Wilshire Securities Management Inc. now owns 957,754 shares of the industrial products company’s stock worth $4,990,000 after buying an additional 34,380 shares during the period. 43.38% of the stock is currently owned by institutional investors and hedge funds.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, France, Chile, 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.