Seaport Global Securities Research Analysts Reduce Earnings Estimates for Manitex International Inc (MNTX)
Manitex International Inc (NASDAQ:MNTX) – Analysts at Seaport Global Securities cut their FY2017 earnings estimates for Manitex International in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will earn $0.20 per share for the year, down from their previous estimate of $0.21. Seaport Global Securities also issued estimates for Manitex International’s Q4 2017 earnings at $0.05 EPS, Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.46 EPS and FY2019 earnings at $0.62 EPS.
Other research analysts also recently issued reports about the company. Roth Capital upgraded Manitex International from a “neutral” rating to a “buy” rating and increased their target price for the company from $10.00 to $11.00 in a research report on Thursday. Zacks Investment Research upgraded Manitex International from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, October 26th.
A number of large investors have recently added to or reduced their stakes in MNTX. Vanguard Group Inc. raised its holdings in Manitex International by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock valued at $3,632,000 after buying an additional 9,279 shares during the period. Auxier Asset Management raised its holdings in Manitex International by 4.9% during the 2nd quarter. Auxier Asset Management now owns 201,881 shares of the industrial products company’s stock valued at $1,409,000 after buying an additional 9,500 shares during the period. Wedbush Securities Inc. raised its holdings in Manitex International by 110.5% during the 3rd quarter. Wedbush Securities Inc. now owns 30,858 shares of the industrial products company’s stock valued at $277,000 after buying an additional 16,200 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Manitex International during the 3rd quarter valued at $702,000. Finally, Cortina Asset Management LLC raised its holdings in Manitex International by 16.4% during the 3rd quarter. Cortina Asset Management LLC now owns 764,091 shares of the industrial products company’s stock valued at $6,862,000 after buying an additional 107,707 shares during the period. Institutional investors own 60.74% of the company’s stock.
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Manitex International Company Profile
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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