Brokerages Anticipate Manitex International Inc (MNTX) Will Announce Quarterly Sales of $58.95 Million

Analysts predict that Manitex International Inc (NASDAQ:MNTX) will post $58.95 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Manitex International’s earnings, with estimates ranging from $53.50 million to $64.40 million. Manitex International posted sales of $64.98 million in the same quarter last year, which suggests a negative year over year growth rate of 9.3%. The firm is expected to report its next quarterly earnings report on Monday, March 5th.

On average, analysts expect that Manitex International will report full year sales of $58.95 million for the current financial year, with estimates ranging from $197.90 million to $199.50 million. For the next financial year, analysts anticipate that the business will report sales of $239.20 million per share, with estimates ranging from $215.00 million to $263.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Manitex International.

A number of research analysts have recently commented on MNTX shares. Roth Capital raised shares of Manitex International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $11.00 in a research report on Thursday, February 8th. Zacks Investment Research raised shares of Manitex International from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, October 26th.

A number of large investors have recently bought and sold shares of the stock. Beddow Capital Management Inc. raised its position in Manitex International by 16.7% in the fourth quarter. Beddow Capital Management Inc. now owns 35,000 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 5,000 shares in the last quarter. Vanguard Group Inc. raised its position in Manitex International by 1.8% in the second quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 9,279 shares in the last quarter. Wedbush Securities Inc. raised its position in Manitex International by 110.5% in the third quarter. Wedbush Securities Inc. now owns 30,858 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 16,200 shares in the last quarter. Bank of New York Mellon Corp raised its position in Manitex International by 118.8% in the fourth quarter. Bank of New York Mellon Corp now owns 31,305 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 17,000 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its position in Manitex International by 2.5% in the fourth quarter. WealthTrust Axiom LLC now owns 863,164 shares of the industrial products company’s stock worth $8,286,000 after purchasing an additional 20,777 shares in the last quarter. 61.09% of the stock is owned by hedge funds and other institutional investors.

Manitex International (NASDAQ MNTX) opened at $11.42 on Tuesday. The company has a market cap of $187.92, a PE ratio of 63.06 and a beta of 1.75. The company has a current ratio of 1.38, a quick ratio of 0.64 and a debt-to-equity ratio of 0.86. Manitex International has a 52-week low of $6.21 and a 52-week high of $11.91.

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About Manitex International

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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