Manitex International (NASDAQ:MNTX) Lowered to “Hold” at Northland Capmk

Manitex International (NASDAQ:MNTX) was downgraded by equities researchers at Northland Capmk from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Several other research firms also recently commented on MNTX. Northland Securities reissued a “market perform” rating and issued a $5.80 price objective (down from $8.00) on shares of Manitex International in a research note on Friday. StockNews.com cut shares of Manitex International from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Manitex International Stock Down 0.2 %

Shares of NASDAQ MNTX opened at $5.62 on Friday. The firm has a market cap of $114.65 million, a price-to-earnings ratio of 11.96 and a beta of 0.75. The company’s 50-day simple moving average is $4.37 and its 200-day simple moving average is $5.40. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 0.78. Manitex International has a 52-week low of $3.07 and a 52-week high of $9.16.

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 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 for the quarter, compared to analysts’ expectations of $75.23 million. Equities analysts predict that Manitex International will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Manitex International

Institutional investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its holdings 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 in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of 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 purchasing an additional 64,187 shares during the period. Cutter & CO Brokerage Inc. acquired a new stake in Manitex International during the first quarter worth about $128,000. Ancora Advisors LLC raised its stake in Manitex International by 95.1% during the first quarter. Ancora Advisors LLC now owns 172,429 shares of the industrial products company’s stock worth $1,183,000 after purchasing an additional 84,029 shares during the period. Finally, Marshall Wace LLP acquired a new position in Manitex International in the 2nd 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.