Zacks: Manitex International Inc (MNTX) Given Average Rating of “Strong Buy” by Brokerages

Manitex International Inc (NASDAQ:MNTX) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price target of $11.00 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Manitex International an industry rank of 151 out of 256 based on the ratings given to related companies.

MNTX has been the topic of several research reports. Zacks Investment Research downgraded shares of Manitex International from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. ValuEngine upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Finally, Roth Capital restated a “buy” rating on shares of Manitex International in a report on Friday, March 15th.

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Manitex International by 52.7% during the 4th quarter. Rhumbline Advisers now owns 18,666 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 6,442 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Manitex International by 67.9% during the 4th quarter. Bank of America Corp DE now owns 30,145 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 12,187 shares in the last quarter. Beddow Capital Management Inc. boosted its position in shares of Manitex International by 14.3% during the 4th quarter. Beddow Capital Management Inc. now owns 40,000 shares of the industrial products company’s stock valued at $227,000 after acquiring an additional 5,000 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Manitex International by 2.9% during the 4th quarter. Deutsche Bank AG now owns 49,049 shares of the industrial products company’s stock valued at $276,000 after acquiring an additional 1,383 shares in the last quarter. Finally, Royce & Associates LP acquired a new stake in shares of Manitex International during the 1st quarter valued at about $527,000. Institutional investors and hedge funds own 52.91% of the company’s stock.

NASDAQ:MNTX opened at $7.68 on Tuesday. Manitex International has a 52-week low of $5.00 and a 52-week high of $13.26. The company has a current ratio of 1.81, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a market cap of $151.45 million, a PE ratio of 22.91 and a beta of 1.50.

Manitex International (NASDAQ:MNTX) last posted its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). Manitex International had a positive return on equity of 6.75% and a negative net margin of 5.44%. The company had revenue of $57.42 million for the quarter, compared to the consensus estimate of $57.20 million. On average, research analysts expect that Manitex International will post 0.47 earnings per share for the current year.

Manitex International Company Profile

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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