Manitex International, Inc. (NASDAQ:MNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $9.50 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.15% from the stock’s previous close.

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. “

Several other equities research analysts also recently issued reports on the stock. Roth Capital set a $10.00 target price on shares of Manitex International and gave the company a “buy” rating in a research note on Thursday, June 8th. ValuEngine raised shares of Manitex International from a “sell” rating to a “hold” rating in a report on Monday.

Manitex International (NASDAQ MNTX) opened at 8.25 on Wednesday. The company’s market capitalization is $136.55 million. Manitex International has a 52 week low of $4.98 and a 52 week high of $9.89. The company’s 50-day moving average price is $7.08 and its 200 day moving average price is $7.42.

Manitex International (NASDAQ:MNTX) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.31%. The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $44.35 million. During the same period last year, the business posted $0.02 EPS. Manitex International’s revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Manitex International will post $0.18 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNTX. Next Century Growth Investors LLC bought a new position in Manitex International during the first quarter valued at $1,761,000. Shufro Rose & Co. LLC bought a new position in Manitex International during the second quarter valued at $1,743,000. Renaissance Technologies LLC bought a new position in Manitex International during the fourth quarter valued at $1,119,000. Boston Partners boosted its position in Manitex International by 41.5% in the first quarter. Boston Partners now owns 530,789 shares of the industrial products company’s stock valued at $3,556,000 after buying an additional 155,704 shares in the last quarter. Finally, WealthTrust Axiom LLC boosted its position in Manitex International by 12.8% in the first quarter. WealthTrust Axiom LLC now owns 830,262 shares of the industrial products company’s stock valued at $5,562,000 after buying an additional 93,996 shares in the last quarter. 66.06% 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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