Manitex International (NASDAQ:MNTX) Raised to Hold at Zacks Investment Research

Manitex International (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

According to Zacks, “MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Their boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. “

Separately, Roth Capital assumed coverage on shares of Manitex International in a report on Thursday, November 19th. They set a “buy” rating and a $6.00 price objective on the stock.

MNTX opened at $7.43 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.50 and a quick ratio of 0.75. The company has a market capitalization of $147.05 million, a price-to-earnings ratio of -11.61, a P/E/G ratio of 1.49 and a beta of 1.18. The firm’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $5.10. Manitex International has a 1 year low of $2.76 and a 1 year high of $8.57.

A number of institutional investors and hedge funds have recently bought and sold shares of MNTX. WealthTrust Axiom LLC raised its stake in shares of Manitex International by 7.8% during the 4th quarter. WealthTrust Axiom LLC now owns 955,890 shares of the industrial products company’s stock worth $4,932,000 after purchasing an additional 69,270 shares during the period. Royce & Associates LP raised its stake in shares of Manitex International by 6.3% during the 4th quarter. Royce & Associates LP now owns 826,592 shares of the industrial products company’s stock worth $4,265,000 after purchasing an additional 48,669 shares during the period. Cannell Capital LLC raised its stake in shares of Manitex International by 4.3% during the 4th quarter. Cannell Capital LLC now owns 325,362 shares of the industrial products company’s stock worth $1,679,000 after purchasing an additional 13,333 shares during the period. Essex Investment Management Co. LLC raised its stake in shares of Manitex International by 5.6% during the 4th quarter. Essex Investment Management Co. LLC now owns 231,847 shares of the industrial products company’s stock worth $1,196,000 after purchasing an additional 12,262 shares during the period. Finally, Shufro Rose & Co. LLC raised its stake in shares of Manitex International by 8.3% during the 4th quarter. Shufro Rose & Co. LLC now owns 195,500 shares of the industrial products company’s stock worth $1,009,000 after purchasing an additional 15,000 shares during the period. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

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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