Manitex International Upgraded by Zacks to Neutral (MNTX)
Manitex International (NASDAQ:MNTX) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Wednesday, American Banking News.com reports. The firm currently has a $14.50 price objective on the stock. Zacks‘ target price points to a potential upside of 2.18% from the stock’s previous close.
Shares of Manitex International (NASDAQ:MNTX) traded down 0.99% on Wednesday, hitting $14.05. The stock had a trading volume of 40,155 shares. Manitex International has a 52-week low of $8.28 and a 52-week high of $16.09. The stock’s 50-day moving average is $13.99 and its 200-day moving average is $12.02. The company has a market cap of $193.3 million and a price-to-earnings ratio of 18.97.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $57.50 million for the quarter, compared to the consensus estimate of $62.71 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts predict that Manitex International will post $0.80 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Singular Research initiated coverage on shares of Manitex International in a research note to investors on Wednesday, November 20th. They set a “buy” rating and a $16.00 price target on the stock. Analysts at Roth Capital raised their price target on shares of Manitex International to $14.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $14.63.
Manitex International, Inc is a provider of engineered lifting solutions. The Company operates in two business segments: the Lifting Equipment segment and the Equipment Distribution segment.
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