Manitex International Inc (MNTX) Receives Average Rating of “Strong Buy” from Analysts

Manitex International Inc (NASDAQ:MNTX) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $15.00 for the company and are predicting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also assigned Manitex International an industry rank of 170 out of 255 based on the ratings given to its competitors.

A number of equities analysts have recently issued reports on MNTX shares. Zacks Investment Research raised shares of Manitex International from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Thursday, April 5th. ValuEngine raised Manitex International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 26th.

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in Manitex International by 6.5% during the 4th quarter. Wells Fargo & Company MN now owns 361,468 shares of the industrial products company’s stock valued at $3,471,000 after purchasing an additional 21,973 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Manitex International during the fourth quarter valued at about $138,000. Bank of New York Mellon Corp grew its holdings in shares of Manitex International by 118.8% during the fourth quarter. Bank of New York Mellon Corp now owns 31,305 shares of the industrial products company’s stock valued at $300,000 after buying an additional 17,000 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Manitex International by 4.3% during the fourth quarter. Allianz Asset Management GmbH now owns 115,629 shares of the industrial products company’s stock worth $1,110,000 after acquiring an additional 4,746 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its holdings in shares of Manitex International by 10.8% in the 4th quarter. Kennedy Capital Management Inc. now owns 462,084 shares of the industrial products company’s stock worth $4,436,000 after acquiring an additional 45,175 shares during the last quarter. 60.80% of the stock is currently owned by institutional investors.

Shares of Manitex International traded down $0.17, hitting $12.62, during mid-day trading on Wednesday, according to MarketBeat.com. 93,281 shares of the company’s stock were exchanged, compared to its average volume of 174,992. The stock has a market capitalization of $213.20 million, a PE ratio of 63.10 and a beta of 1.48. The company has a current ratio of 1.53, a quick ratio of 0.78 and a debt-to-equity ratio of 0.96. Manitex International has a 52 week low of $6.75 and a 52 week high of $12.95.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings results on Wednesday, May 9th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $56.68 million for the quarter, compared to analyst estimates of $51.55 million. Manitex International had a positive return on equity of 5.12% and a negative net margin of 2.68%. equities research analysts predict that Manitex International will post 0.49 earnings per share for the current fiscal year.

About Manitex International

Manitex International, Inc provides engineered lifting solutions. The company designs, manufactures, and distributes products that are used in various industries. It offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development, including roads, bridges, and commercial construction.

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