Manitex International (MNTX) Upgraded by Zacks Investment Research to Strong-Buy
Zacks Investment Research upgraded shares of Manitex International (NASDAQ:MNTX) from a hold rating to a strong-buy rating in a report released on Wednesday. Zacks Investment Research currently has $10.00 price target on the industrial products company’s stock.
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 lowered Manitex International from a buy rating to a neutral rating and set a $10.00 price target on the stock. in a research note on Tuesday, November 7th.
Shares of Manitex International (NASDAQ MNTX) opened at $9.32 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64. Manitex International has a 1-year low of $6.21 and a 1-year high of $9.89. The company has a market capitalization of $152.99, a P/E ratio of -7.70 and a beta of 2.03.
Several large investors have recently modified their holdings of the company. Cortina Asset Management LLC boosted its stake in shares of Manitex International by 16.4% in the third quarter. Cortina Asset Management LLC now owns 764,091 shares of the industrial products company’s stock worth $6,862,000 after acquiring an additional 107,707 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Manitex International by 11.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 551,254 shares of the industrial products company’s stock worth $3,848,000 after buying an additional 55,120 shares in the last quarter. Vanguard Group Inc. lifted its position in Manitex International by 1.8% during the second quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock worth $3,632,000 after buying an additional 9,279 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in Manitex International by 38.2% during the second quarter. Kennedy Capital Management Inc. now owns 425,209 shares of the industrial products company’s stock worth $2,968,000 after buying an additional 117,447 shares in the last quarter. Finally, Morgan Stanley lifted its position in Manitex International by 2.6% during the first quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 9,980 shares in the last quarter. 65.29% of the stock is currently owned by hedge funds and other institutional investors.
About Manitex International
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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