Shares of Manitex International Inc (NASDAQ:MNTX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $15.00 for the company and are expecting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also given Manitex International an industry rank of 67 out of 255 based on the ratings given to related companies.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Manitex International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. ValuEngine raised Manitex International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 26th. Finally, TheStreet raised Manitex International from a “d” rating to a “c” rating in a research report on Wednesday, August 15th.
In other Manitex International news, Director Robert S. Gigliotti sold 4,400 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $11.71, for a total value of $51,524.00. Following the transaction, the director now directly owns 83,750 shares of the company’s stock, valued at approximately $980,712.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.78% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in Manitex International in the 2nd quarter worth about $116,000. Macquarie Group Ltd. acquired a new position in Manitex International in the 2nd quarter worth about $122,000. Rhumbline Advisers acquired a new position in Manitex International in the 2nd quarter worth about $152,000. Element Capital Management LLC acquired a new position in Manitex International in the 1st quarter worth about $142,000. Finally, Private Advisor Group LLC acquired a new position in Manitex International in the 2nd quarter worth about $166,000. 56.36% of the stock is currently owned by institutional investors.
NASDAQ:MNTX traded down $0.17 during trading hours on Wednesday, hitting $9.00. 12,700 shares of the company’s stock traded hands, compared to its average volume of 72,359. The firm has a market capitalization of $206.46 million, a price-to-earnings ratio of 45.00 and a beta of 1.28. Manitex International has a twelve month low of $7.28 and a twelve month high of $13.26. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54.
Manitex International (NASDAQ:MNTX) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $63.90 million for the quarter, compared to analyst estimates of $62.05 million. Manitex International had a negative net margin of 1.98% and a positive return on equity of 6.07%. Equities analysts forecast that Manitex International will post 0.44 earnings per share for the current 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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