Zacks: Analysts Set $15.00 Price Target for Manitex International Inc (MNTX)

Shares of Manitex International Inc (NASDAQ:MNTX) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price objective of $15.00 for the company and are forecasting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Manitex International an industry rank of 60 out of 255 based on the ratings given to its competitors.

MNTX has been the topic of a number of recent research reports. Zacks Investment Research lowered Manitex International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. ValuEngine lowered Manitex International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Manitex International by 6.5% in the 4th quarter. Wells Fargo & Company MN now owns 361,468 shares of the industrial products company’s stock valued at $3,471,000 after buying an additional 21,973 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Manitex International by 118.8% in the 4th quarter. Bank of New York Mellon Corp now owns 31,305 shares of the industrial products company’s stock valued at $300,000 after buying an additional 17,000 shares in the last quarter. Element Capital Management LLC purchased a new stake in Manitex International in the 1st quarter valued at approximately $142,000. Monarch Partners Asset Management LLC purchased a new position in shares of Manitex International during the 1st quarter worth $540,000. Finally, Intrinsic Edge Capital Management LLC lifted its stake in shares of Manitex International by 14.6% during the 1st quarter. Intrinsic Edge Capital Management LLC now owns 119,571 shares of the industrial products company’s stock worth $1,367,000 after purchasing an additional 15,262 shares during the period. 59.87% of the stock is currently owned by hedge funds and other institutional investors.

MNTX stock traded down $0.03 on Friday, reaching $11.59. The company had a trading volume of 111,820 shares, compared to its average volume of 52,779. Manitex International has a 1 year low of $7.28 and a 1 year high of $13.26. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.78 and a current ratio of 1.79. The firm has a market cap of $227.83 million, a P/E ratio of 57.95 and a beta of 1.45.

Manitex International (NASDAQ:MNTX) last posted its earnings results on Tuesday, August 7th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manitex International had a negative net margin of 1.98% and a positive return on equity of 6.07%. The company had revenue of $63.90 million during the quarter, compared to analysts’ expectations of $62.05 million. research analysts predict that Manitex International will post 0.44 earnings per share for the current year.

About Manitex International

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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