Manitex International (MNTX) Stock Rating Upgraded by Zacks Investment Research

Manitex International (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, December 20th. The firm currently has a $10.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 0.40% from the company’s current price.

According to Zacks, “MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Their boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. “

Separately, Roth Capital cut Manitex International from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Tuesday, November 7th.

Shares of Manitex International (NASDAQ MNTX) traded up $0.22 during midday trading on Wednesday, reaching $9.96. The company’s stock had a trading volume of 148,651 shares, compared to its average volume of 70,094. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64. Manitex International has a 52-week low of $6.21 and a 52-week high of $10.20. The firm has a market cap of $164.74, a PE ratio of -8.23 and a beta of 2.02.

A number of hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. raised its stake in Manitex International by 35.0% during the 2nd quarter. Wedbush Securities Inc. now owns 14,658 shares of the industrial products company’s stock worth $102,000 after buying an additional 3,800 shares during the period. Dimensional Fund Advisors LP raised its stake in Manitex International by 3.2% during the 1st 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 period. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. Auxier Asset Management raised its stake in shares of Manitex International by 4.9% in the second quarter. Auxier Asset Management now owns 201,881 shares of the industrial products company’s stock worth $1,409,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of 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 purchasing an additional 9,980 shares during the last quarter. 60.68% of the stock is currently owned by institutional investors and hedge funds.

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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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