Analysts Set $14.00 Target Price for Manitex International Inc. (MNTX)

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

Analysts have set a 1-year consensus price target of $14.00 for the company and are anticipating that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also assigned Manitex International an industry rank of 31 out of 265 based on the ratings given to its competitors.

MNTX has been the subject of several research reports. Zacks Investment Research upgraded shares of Manitex International from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, April 5th. Roth Capital upgraded shares of 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 note on Thursday, February 8th.

A number of large investors have recently bought and sold shares of the stock. WealthTrust Axiom LLC raised its position in Manitex International by 2.5% in the fourth quarter. WealthTrust Axiom LLC now owns 863,164 shares of the industrial products company’s stock worth $8,286,000 after purchasing an additional 20,777 shares in the last quarter. Cortina Asset Management LLC raised its position in Manitex International by 2.9% in the fourth quarter. Cortina Asset Management LLC now owns 786,366 shares of the industrial products company’s stock worth $7,549,000 after purchasing an additional 22,275 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its position in Manitex International by 1.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 618,374 shares of the industrial products company’s stock worth $7,068,000 after purchasing an additional 11,690 shares in the last quarter. Kennedy Capital Management Inc. raised its position in Manitex International by 10.8% in the fourth quarter. Kennedy Capital Management Inc. now owns 462,084 shares of the industrial products company’s stock worth $4,436,000 after purchasing an additional 45,175 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Manitex International by 14.7% in the first quarter. Wells Fargo & Company MN now owns 414,430 shares of the industrial products company’s stock worth $4,737,000 after purchasing an additional 52,962 shares in the last quarter. 59.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Manitex International traded down $0.15, hitting $11.20, during mid-day trading on Friday, according to Marketbeat.com. The company had a trading volume of 42,448 shares, compared to its average volume of 48,963. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.70 and a current ratio of 1.53. Manitex International has a 12 month low of $6.41 and a 12 month high of $12.37. The stock has a market cap of $186.69 million, a PE ratio of 56.00 and a beta of 1.45.

Manitex International (NASDAQ:MNTX) last released its earnings results on Wednesday, May 9th. The industrial products company reported $0.05 earnings per share for the quarter. Manitex International had a negative net margin of 2.68% and a positive return on equity of 5.12%. The business had revenue of $56.68 million during the quarter, compared to analysts’ expectations of $51.55 million. research analysts forecast that Manitex International will post 0.53 earnings per share for the current fiscal year.

About Manitex International

Manitex International, Inc provides engineered lifting and loading products worldwide. The company operates through three segments: Lifting Equipment, ASV, and Equipment Distribution segments. The Lifting Equipment segment designs, manufactures, and distributes boom trucks and crane products that are used for industrial projects and energy exploration, as well as for roads, bridges, and residential and commercial construction; and specialized rough terrain cranes and material handling products for the construction, municipality, and railroad industries, as well as truck-mounted aerial platforms and sign cranes.

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