StockNews.com Begins Coverage on Manitex International (NASDAQ:MNTX)

Investment analysts at StockNews.com started coverage on shares of Manitex International (NASDAQ:MNTX) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

Several other brokerages have also recently commented on MNTX. Northland Securities reissued a “market perform” rating and set a $5.80 target price (down previously from $8.00) on shares of Manitex International in a report on Friday, September 13th. Northland Capmk downgraded Manitex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 13th.

Manitex International Stock Performance

MNTX stock opened at $5.74 on Thursday. The company has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $5.11. The company has a market capitalization of $117.10 million, a P/E ratio of 12.48 and a beta of 0.77. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. Manitex International has a fifty-two week low of $3.07 and a fifty-two week high of $9.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new position in shares of Manitex International in the third quarter valued at about $69,000. Cutter & CO Brokerage Inc. raised its position in shares of Manitex International by 17.8% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 22,059 shares of the industrial products company’s stock valued at $98,000 after buying an additional 3,340 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Manitex International during the 2nd quarter worth approximately $128,000. Virtu Financial LLC acquired a new stake in shares of Manitex International during the 3rd quarter worth approximately $248,000. Finally, Empowered Funds LLC acquired a new position in Manitex International during the third quarter valued at approximately $480,000. Institutional investors and hedge funds own 46.01% of the company’s stock.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.