Manitex International’s (MNTX) “Market Perform” Rating Reaffirmed at Northland Securities

Northland Securities reissued their market perform rating on shares of Manitex International (NASDAQ:MNTX) in a report published on Friday morning, MarketBeat reports. They currently have a $5.80 price objective on the industrial products company’s stock, down from their prior price objective of $8.00.

Separately, StockNews.com cut shares of Manitex International from a buy rating to a hold rating in a report on Thursday, August 8th.

Manitex International Stock Performance

Shares of NASDAQ MNTX opened at $5.62 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $4.37 and its two-hundred day moving average price is $5.40. Manitex International has a 52-week low of $3.07 and a 52-week high of $9.16. The stock has a market capitalization of $114.65 million, a P/E ratio of 11.96 and a beta of 0.75.

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, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $76.24 million for the quarter, compared to the consensus estimate of $75.23 million. Manitex International had a return on equity of 18.79% and a net margin of 3.56%. As a group, sell-side analysts forecast that Manitex International will post 0.33 earnings per share for the current year.

Institutional Trading of Manitex International

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new position in shares of Manitex International in the fourth quarter worth $27,000. Cutter & CO Brokerage Inc. acquired a new stake in Manitex International in the first quarter worth about $128,000. Marshall Wace LLP bought a new position in Manitex International in the 2nd quarter valued at about $128,000. O Shaughnessy Asset Management LLC increased its stake 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 period. Finally, Renaissance Technologies LLC raised its position in shares of Manitex International by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 142,073 shares of the industrial products company’s stock worth $629,000 after buying an additional 16,433 shares in the last quarter. 46.01% of the stock is currently owned by institutional investors and hedge funds.

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.