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

StockNews.com initiated coverage on shares of Manitex International (NASDAQ:MNTX) in a research note published on Saturday. The firm issued a hold rating on the industrial products company’s stock.

Several other research firms also recently weighed in on MNTX. Northland Capmk downgraded shares of Manitex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 13th. Northland Securities restated a “market perform” rating and issued a $5.80 price objective (down previously from $8.00) on shares of Manitex International in a research report on Friday, September 13th.

Manitex International Stock Up 0.2 %

Shares of NASDAQ:MNTX opened at $5.71 on Friday. The firm has a fifty day moving average price of $5.10 and a two-hundred day moving average price of $5.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.55 and a quick ratio of 0.67. Manitex International has a one year low of $3.07 and a one year high of $9.16. The company has a market cap of $116.48 million, a price-to-earnings ratio of 10.98 and a beta of 0.76.

Manitex International (NASDAQ:MNTX) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $75.23 million. Analysts anticipate that Manitex International will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitex International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in shares of Manitex International during the second quarter valued at about $128,000. First Eagle Investment Management LLC increased its position in shares of Manitex International by 2.9% during the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 8,500 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Manitex International by 20.3% during 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 period. Russell Investments Group Ltd. increased its position in shares of Manitex International by 2,049.4% during 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 period. Finally, Cutter & CO Brokerage Inc. purchased a new position in shares of Manitex International during the first quarter valued at about $128,000. Hedge funds and other 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.