Manitex International (NASDAQ:MNTX) Rating Reiterated by Northland Securities

Northland Securities reaffirmed their market perform rating on shares of Manitex International (NASDAQ:MNTX) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. Northland Securities currently has a $5.80 price objective on the industrial products company’s stock, down from their prior price objective of $8.00.

Separately, StockNews.com lowered Manitex International from a buy rating to a hold rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $6.90.

Manitex International Price Performance

Manitex International stock opened at $5.62 on Friday. Manitex International has a one year low of $3.07 and a one year high of $9.16. The business has a fifty day moving average price of $4.40 and a 200-day moving average price of $5.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.55 and a quick ratio of 0.67. The firm has a market capitalization of $114.45 million, a P/E ratio of 11.96 and a beta of 0.75.

Manitex International (NASDAQ:MNTX) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. The firm had revenue of $76.24 million during the quarter, compared to analyst estimates of $75.23 million. As a group, equities research analysts forecast that Manitex International will post 0.33 EPS for the current year.

Institutional Investors Weigh In On Manitex International

Several large investors have recently added to or reduced their stakes in the business. Pacific Ridge Capital Partners LLC boosted its stake in Manitex International by 0.3% during the second quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock valued at $4,064,000 after buying an additional 2,871 shares during the period. Marshall Wace LLP bought a new stake in Manitex International during the second quarter valued at $128,000. First Eagle Investment Management LLC boosted its stake in Manitex International by 2.9% during the second quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock valued at $1,356,000 after buying an additional 8,500 shares during the period. Renaissance Technologies LLC boosted its stake in Manitex International by 13.1% during the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock valued at $629,000 after buying an additional 16,433 shares during the period. Finally, Cutter & CO Brokerage Inc. raised its position in Manitex International by 17.8% during the second quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock valued at $98,000 after purchasing an additional 3,340 shares in the last quarter. Institutional investors own 46.01% of the company’s stock.

About Manitex International

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.