Zacks: Manitex International Inc (MNTX) Receives Consensus Rating of “Strong Buy” from Analysts

Manitex International Inc (NASDAQ:MNTX) has received 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 research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $15.00 for the company and are predicting that the company will post $0.10 EPS for the current quarter, according to Zacks. Zacks has also assigned Manitex International an industry rank of 62 out of 255 based on the ratings given to related companies.

A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Manitex International from a “d” rating to a “c” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of Manitex International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 26th.

MNTX stock traded up $0.22 during mid-day trading on Monday, reaching $9.58. The company had a trading volume of 28,800 shares, compared to its average volume of 73,597. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.79. The stock has a market capitalization of $206.46 million, a price-to-earnings ratio of 48.25 and a beta of 1.28. Manitex International has a one year low of $7.28 and a one year high of $13.26.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manitex International had a negative net margin of 1.98% and a positive return on equity of 6.07%. The company had revenue of $63.90 million for the quarter, compared to the consensus estimate of $62.05 million. As a group, analysts predict that Manitex International will post 0.44 EPS for the current fiscal year.

In related news, Director Robert S. Gigliotti sold 4,400 shares of Manitex International stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $11.71, for a total transaction of $51,524.00. Following the sale, the director now directly owns 83,750 shares in the company, valued at $980,712.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.78% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its stake in shares of Manitex International by 311.4% during the second quarter. Northern Trust Corp now owns 171,916 shares of the industrial products company’s stock valued at $2,145,000 after purchasing an additional 130,127 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Manitex International by 82.1% during the second quarter. Bank of New York Mellon Corp now owns 61,971 shares of the industrial products company’s stock worth $773,000 after acquiring an additional 27,949 shares during the period. Putnam Investments LLC acquired a new position in Manitex International during the second quarter worth about $2,525,000. Macquarie Group Ltd. acquired a new position in Manitex International during the second quarter worth about $122,000. Finally, Manatuck Hill Partners LLC grew its holdings in Manitex International by 5.4% during the second quarter. Manatuck Hill Partners LLC now owns 387,700 shares of the industrial products company’s stock worth $4,838,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds own 56.36% of the company’s stock.

Manitex International Company Profile

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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