Manitex International (MNTX) Upgraded to “Buy” by Roth Capital

Manitex International (NASDAQ:MNTX) was upgraded by stock analysts at Roth Capital from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $11.00 price objective on the industrial products company’s stock, up from their prior price objective of $10.00. Roth Capital’s price objective points to a potential downside of 2.22% from the stock’s previous close.

Separately, Zacks Investment Research lowered shares of Manitex International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd.

Manitex International (NASDAQ MNTX) traded down $0.43 during mid-day trading on Thursday, hitting $11.25. 160,130 shares of the stock were exchanged, compared to its average volume of 70,034. Manitex International has a twelve month low of $6.21 and a twelve month high of $11.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64. The firm has a market capitalization of $186.26, a price-to-earnings ratio of -9.30 and a beta of 1.75.

Institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH acquired a new position in Manitex International in the 3rd quarter valued at approximately $996,000. Wedge Capital Management L L P NC acquired a new position in Manitex International in the 3rd quarter valued at approximately $702,000. Shufro Rose & Co. LLC increased its stake in Manitex International by 11.8% in the 3rd quarter. Shufro Rose & Co. LLC now owns 279,200 shares of the industrial products company’s stock valued at $2,507,000 after buying an additional 29,500 shares during the period. Granahan Investment Management Inc. MA increased its stake in Manitex International by 152.2% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 82,601 shares of the industrial products company’s stock valued at $742,000 after buying an additional 49,845 shares during the period. Finally, Cortina Asset Management LLC increased its stake in Manitex International by 16.4% in the 3rd quarter. Cortina Asset Management LLC now owns 764,091 shares of the industrial products company’s stock valued at $6,862,000 after buying an additional 107,707 shares during the period. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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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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