Manitex International (NASDAQ:MNTX) Downgraded to Hold at ValuEngine

ValuEngine downgraded shares of Manitex International (NASDAQ:MNTX) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Manitex International from a strong sell rating to a hold rating in a research report on Thursday, January 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $6.75.

Manitex International stock traded up $0.01 during trading hours on Thursday, reaching $3.71. 22,520 shares of the company’s stock were exchanged, compared to its average volume of 23,382. The company has a quick ratio of 0.95, a current ratio of 1.81 and a debt-to-equity ratio of 0.50. The firm’s 50 day simple moving average is $4.79 and its 200 day simple moving average is $5.52. Manitex International has a twelve month low of $2.76 and a twelve month high of $8.72. The firm has a market capitalization of $78.29 million, a PE ratio of -8.63, a PEG ratio of 1.90 and a beta of 1.47.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings results on Monday, March 9th. The industrial products company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. The firm had revenue of $54.45 million during the quarter, compared to the consensus estimate of $53.90 million. Manitex International had a positive return on equity of 3.57% and a negative net margin of 3.78%. Analysts anticipate that Manitex International will post 0.2 EPS for the current year.

In related news, CEO Steve Filipov acquired 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $5.29 per share, with a total value of $79,350.00. Following the transaction, the chief executive officer now directly owns 111,736 shares of the company’s stock, valued at $591,083.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 21,000 shares of company stock worth $102,910 in the last three months. Insiders own 6.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Wilshire Securities Management Inc. lifted its position in Manitex International by 1.8% in the 4th quarter. First Wilshire Securities Management Inc. now owns 933,563 shares of the industrial products company’s stock valued at $5,555,000 after acquiring an additional 16,158 shares in the last quarter. Cannell Capital LLC lifted its position in Manitex International by 12.4% in the 4th quarter. Cannell Capital LLC now owns 241,852 shares of the industrial products company’s stock valued at $1,439,000 after acquiring an additional 26,603 shares in the last quarter. Renaissance Technologies LLC lifted its position in Manitex International by 38.5% in the 4th quarter. Renaissance Technologies LLC now owns 52,699 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 14,659 shares in the last quarter. Rutabaga Capital Management LLC MA lifted its position in Manitex International by 16.9% in the 4th quarter. Rutabaga Capital Management LLC MA now owns 929,603 shares of the industrial products company’s stock valued at $5,531,000 after acquiring an additional 134,142 shares in the last quarter. Finally, Heartland Advisors Inc. bought a new position in Manitex International in the 4th quarter valued at about $110,000. 50.37% of the stock is currently owned by institutional investors and hedge funds.

About Manitex International

Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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