Manitex International (NASDAQ:MNTX) Rating Reiterated by Northland Securities

Northland Securities restated their market perform rating on shares of Manitex International (NASDAQ:MNTX) in a research report sent to investors on Friday, Marketbeat reports. They currently have a $5.80 price target on the industrial products company’s stock, down from their prior price target of $8.00.

Separately, StockNews.com downgraded Manitex International from a buy rating to a hold rating in a research note on Thursday, August 8th. Three equities research 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.com, the company has an average rating of Hold and an average target price of $6.90.

Manitex International Stock Performance

Shares of NASDAQ MNTX opened at $5.62 on Friday. 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 has a 12 month low of $3.07 and a 12 month high of $9.16. The stock has a 50 day moving average of $4.40 and a 200-day moving average of $5.37. The company has a market capitalization of $114.45 million, a P/E ratio of 11.96 and a beta of 0.75.

Manitex International (NASDAQ:MNTX) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $0.11 EPS for the quarter, topping 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 company had revenue of $76.24 million during the quarter, compared to the consensus estimate of $75.23 million. As a group, equities research analysts predict that Manitex International will post 0.33 EPS for the current year.

Institutional Trading of Manitex International

A number of institutional investors have recently modified their holdings of MNTX. Russell Investments Group Ltd. acquired a new position in Manitex International in the 4th quarter worth about $27,000. Cutter & CO Brokerage Inc. bought a new position in Manitex International in the first quarter worth approximately $128,000. Marshall Wace LLP bought a new position in Manitex International in the second quarter worth approximately $128,000. O Shaughnessy Asset Management LLC raised its stake in shares of 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 worth $237,000 after purchasing an additional 5,853 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Manitex International by 13.1% in the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock worth $629,000 after purchasing an additional 16,433 shares during the last quarter. 46.01% of the stock is currently owned by institutional investors.

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.