Manitex International (MNTX) Lifted 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 report issued on Tuesday.
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. “
A number of other research analysts have also issued reports on the company. TheStreet upgraded Manitex International from a “d” rating to a “c” rating in a report on Wednesday, August 15th. ValuEngine lowered Manitex International from a “buy” rating to a “hold” rating in a report on Saturday, October 6th.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. Manitex International had a positive return on equity of 6.69% and a negative net margin of 1.28%. The business had revenue of $60.94 million during the quarter, compared to analysts’ expectations of $63.10 million. As a group, research analysts anticipate that Manitex International will post 0.35 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in Manitex International in the third quarter valued at $106,000. Acadian Asset Management LLC purchased a new position in Manitex International in the second quarter valued at $116,000. Macquarie Group Ltd. purchased a new position in Manitex International in the second quarter valued at $122,000. Rhumbline Advisers purchased a new position in Manitex International in the second quarter valued at $152,000. Finally, Private Advisor Group LLC purchased a new position in Manitex International in the second quarter valued at $166,000. Hedge funds and other institutional investors own 56.10% of the company’s stock.
Manitex International Company Profile
Manitex International, Inc provides engineered lifting solutions. The company designs, manufactures, and distributes products that are used in various industries. It offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development, including roads, bridges, and commercial construction.
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