Investment analysts at Roth Capital initiated coverage on shares of Manitex International (NASDAQ:MNTX) in a report released on Friday, The Fly reports. The brokerage set a “buy” rating and a $7.00 price target on the industrial products company’s stock. Roth Capital’s price target points to a potential upside of 21.74% from the stock’s current price.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research raised Manitex International from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Wednesday, October 30th. Dougherty & Co reaffirmed a “buy” rating on shares of Manitex International in a research report on Wednesday, August 28th.
Manitex International stock traded down $0.07 during mid-day trading on Friday, reaching $5.75. The stock had a trading volume of 3,081 shares, compared to its average volume of 25,077. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.90 and a current ratio of 1.83. Manitex International has a fifty-two week low of $4.80 and a fifty-two week high of $8.72. The stock’s 50-day simple moving average is $6.07 and its 200-day simple moving average is $6.20. The firm has a market capitalization of $113.81 million, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.81 and a beta of 1.54.
Manitex International (NASDAQ:MNTX) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. Manitex International had a positive return on equity of 6.11% and a negative net margin of 2.74%. The firm had revenue of $60.97 million during the quarter. On average, research analysts forecast that Manitex International will post 0.32 earnings per share for the current fiscal year.
In related news, CEO Steve Filipov bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $5.60 per share, with a total value of $28,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $308,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.07% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in MNTX. Tower Research Capital LLC TRC boosted its position in Manitex International by 229.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,760 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 2,617 shares during the last quarter. Marshall Wace LLP purchased a new position in Manitex International in the second quarter worth $68,000. Cutter & CO Brokerage Inc. purchased a new position in Manitex International in the second quarter worth $77,000. Auxier Asset Management purchased a new position in Manitex International in the third quarter worth $101,000. Finally, Wedbush Securities Inc. boosted its position in Manitex International by 35.0% in the second quarter. Wedbush Securities Inc. now owns 14,658 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 3,800 shares during the last quarter. 52.25% of the stock is currently owned by institutional investors.
Manitex International Company Profile
Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.
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