Manitex International, Inc. (MNTX) Upgraded at ValuEngine
Manitex International, Inc. (NASDAQ:MNTX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
Separately, Roth Capital set a $10.00 target price on shares of Manitex International and gave the stock a “buy” rating in a research report on Thursday, June 8th.
Manitex International (MNTX) traded up 1.36% during mid-day trading on Monday, hitting $8.20. The stock had a trading volume of 79,411 shares. The stock’s market cap is $135.73 million. The firm’s 50-day moving average is $7.03 and its 200 day moving average is $7.41. Manitex International has a one year low of $4.98 and a one year high of $9.89.
Manitex International (NASDAQ:MNTX) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.08. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.31%. The company had revenue of $51.60 million during the quarter, compared to the consensus estimate of $44.35 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Manitex International will post $0.16 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in Manitex International during the second quarter worth about $105,000. KCG Holdings Inc. bought a new stake in Manitex International during the first quarter worth about $114,000. Morgan Stanley increased its stake in Manitex International by 2.6% in the first quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 9,980 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Manitex International by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock worth $911,000 after buying an additional 4,176 shares during the last quarter. Finally, Next Century Growth Investors LLC bought a new stake in Manitex International during the first quarter worth about $1,761,000. Institutional investors own 66.06% of the company’s stock.
Manitex International Company Profile
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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