Manitex International Downgraded to Underperform at Zacks (MNTX)
Manitex International (NASDAQ:MNTX) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Friday. They currently have a $10.00 target price on the stock. Zacks‘s price target suggests a potential downside of 16.81% from the stock’s previous close.
Manitex International (NASDAQ:MNTX) traded down 0.08% on Friday, hitting $12.02. The stock had a trading volume of 499,925 shares. Manitex International has a 1-year low of $10.00 and a 1-year high of $17.85. The stock has a 50-day moving average of $15.50 and a 200-day moving average of $15.76. The company has a market cap of $166.1 million and a P/E ratio of 15.50.
Manitex International (NASDAQ:MNTX) last announced its earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.03. The company had revenue of $68.40 million for the quarter, compared to the consensus estimate of $72.17 million. During the same quarter last year, the company posted $0.22 earnings per share. Manitex International’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that Manitex International will post $0.83 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Global Hunter Securities downgraded shares of Manitex International from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $14.00 price target on the stock, down previously from $20.00. Separately, analysts at ISI Group raised their price target on shares of Manitex International to $20.00 in a research note on Thursday, May 29th. They now have a “buy” rating on the stock. Finally, analysts at Singular Research raised their price target on shares of Manitex International from $19.50 to $20.00 in a research note on Thursday, May 29th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Manitex International currently has an average rating of “Hold” and an average target price of $15.60.
Manitex International, Inc is engaged in providing engineered lifting solutions. The Company operates in two segments: Lifting Equipment segment and Equipment Distribution segment.
To view Zacks’ full report, visit Zacks’ official website.
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