Zacks Investment Research cut shares of Manitex International (NASDAQ:MNTX) from a hold rating to a sell rating in a research note released on Wednesday.
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. “
A number of other equities research analysts have also issued reports on MNTX. ValuEngine lowered Manitex International from a strong-buy rating to a buy rating in a research note on Wednesday, August 8th. TheStreet raised Manitex International from a d rating to a c rating in a research note on Wednesday, August 15th.
Shares of MNTX stock traded down $0.37 on Wednesday, reaching $8.27. 20,877 shares of the company’s stock were exchanged, compared to its average volume of 50,127. Manitex International has a 52 week low of $7.76 and a 52 week high of $13.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.92. The firm has a market capitalization of $164.04 million, a P/E ratio of 41.35 and a beta of 1.33.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. Manitex International had a positive return on equity of 6.69% and a negative net margin of 1.28%. The firm had revenue of $60.94 million during the quarter, compared to analyst estimates of $63.10 million. As a group, sell-side analysts forecast that Manitex International will post 0.35 EPS for the current year.
In other Manitex International news, Director Robert S. Gigliotti sold 4,400 shares of Manitex International stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $11.71, for a total transaction of $51,524.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. Insiders own 6.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MNTX. Northern Trust Corp raised its position in Manitex International by 18.9% during the 1st quarter. Northern Trust Corp now owns 41,789 shares of the industrial products company’s stock valued at $477,000 after purchasing an additional 6,634 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Manitex International by 45.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 170,266 shares of the industrial products company’s stock valued at $1,946,000 after purchasing an additional 52,804 shares in the last quarter. Millennium Management LLC raised its position in Manitex International by 336.5% during the 1st quarter. Millennium Management LLC now owns 133,066 shares of the industrial products company’s stock valued at $1,521,000 after purchasing an additional 102,581 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Manitex International during the 2nd quarter valued at $116,000. Finally, Rhumbline Advisers bought a new stake in Manitex International during the 2nd quarter valued at $152,000. 56.37% of the stock is owned by institutional investors and hedge funds.
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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