Manitex International (NASDAQ:MNTX) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Manitex International (NASDAQ:MNTX) in a research note released on Saturday morning. The brokerage issued a hold rating on the industrial products company’s stock.

A number of other research firms also recently issued reports on MNTX. Northland Capmk downgraded shares of Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 13th. Northland Securities reaffirmed a “market perform” rating and set a $5.80 price objective (down from $8.00) on shares of Manitex International in a report on Friday, September 13th.

Manitex International Stock Performance

NASDAQ:MNTX opened at $5.70 on Friday. Manitex International has a 1 year low of $3.07 and a 1 year high of $9.16. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.67 and a current ratio of 1.55. The stock has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $5.17. The stock has a market capitalization of $116.28 million, a price-to-earnings ratio of 10.96 and a beta of 0.76.

Manitex International (NASDAQ:MNTX) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Manitex International had a net margin of 3.56% and a return on equity of 18.79%. The business had revenue of $76.24 million during the quarter, compared to the consensus estimate of $75.23 million. As a group, sell-side analysts anticipate that Manitex International will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manitex International

Several hedge funds have recently added to or reduced their stakes in MNTX. Cutter & CO Brokerage Inc. acquired a new stake in shares of Manitex International in the first quarter valued at approximately $128,000. Marshall Wace LLP acquired a new stake in Manitex International during the 2nd quarter valued at $128,000. O Shaughnessy Asset Management LLC grew its holdings in Manitex International by 20.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock valued at $237,000 after buying an additional 5,853 shares during the last quarter. Russell Investments Group Ltd. increased its position in Manitex International by 2,049.4% during the first quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock worth $462,000 after buying an additional 64,187 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Manitex International by 13.1% in the second quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 16,433 shares during the last quarter. 46.01% of the stock is currently owned by hedge funds and other institutional investors.

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.