ValuEngine Downgrades Manitex International (MNTX) to Buy

ValuEngine downgraded shares of Manitex International (NASDAQ:MNTX) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Separately, Zacks Investment Research cut Manitex International from a hold rating to a sell rating in a report on Wednesday, July 11th.

NASDAQ MNTX opened at $11.59 on Wednesday. The firm has a market capitalization of $227.83 million, a price-to-earnings ratio of 57.95 and a beta of 1.45. Manitex International has a 1 year low of $7.28 and a 1 year high of $13.26. The company has a current ratio of 1.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.54.

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

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in Manitex International during the 2nd quarter valued at $116,000. Rhumbline Advisers acquired a new stake in Manitex International during the 2nd quarter valued at $152,000. Element Capital Management LLC acquired a new stake in Manitex International during the 1st quarter valued at $142,000. Private Advisor Group LLC acquired a new stake in Manitex International during the 2nd quarter valued at $166,000. Finally, Argent Capital Management LLC acquired a new stake in Manitex International during the 2nd quarter valued at $274,000. 59.87% of the stock is currently owned by institutional investors.

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.

Read More: What do investors mean by earnings per share?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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