Manitex International (NASDAQ:MNTX) Coverage Initiated by Analysts at Roth Capital

Equities researchers at Roth Capital assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued on Friday, The Fly reports. The firm set a “buy” rating and a $7.00 price target on the industrial products company’s stock. Roth Capital’s price target would indicate a potential upside of 21.74% from the stock’s previous close.

Several other brokerages have also commented on MNTX. Zacks Investment Research raised Manitex International from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Wednesday, October 30th. Dougherty & Co reissued a “buy” rating on shares of Manitex International in a report on Wednesday, August 28th.

MNTX traded down $0.07 during trading on Friday, hitting $5.75. The company’s stock had a trading volume of 3,081 shares, compared to its average volume of 25,077. The company has a current ratio of 1.83, a quick ratio of 0.90 and a debt-to-equity ratio of 0.56. Manitex International has a twelve month low of $4.80 and a twelve month high of $8.72. The business’s fifty day simple moving average is $6.07 and its 200 day simple moving average is $6.20. The firm has a market capitalization of $113.81 million, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.81 and a beta of 1.54.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Manitex International had a positive return on equity of 6.11% and a negative net margin of 2.74%. The company had revenue of $60.97 million for the quarter. As a group, equities research analysts forecast that Manitex International will post 0.32 earnings per share for the current fiscal year.

In other news, CEO Steve Filipov bought 5,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of $5.76 per share, for a total transaction of $28,800.00. Following the completion of the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $316,800. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.07% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Manitex International by 229.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,760 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 2,617 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Manitex International in the second quarter valued at approximately $68,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Manitex International in the second quarter valued at approximately $77,000. JPMorgan Chase & Co. lifted its position in shares of Manitex International by 38.4% in the second quarter. JPMorgan Chase & Co. now owns 65,168 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 18,086 shares in the last quarter. Finally, Potrero Capital Research LLC purchased a new position in shares of Manitex International in the second quarter valued at approximately $389,000. Institutional investors and hedge funds own 52.25% of the company’s stock.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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