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

Equities research analysts at StockNews.com assumed coverage on shares of Manitex International (NASDAQ:MNTX) in a research note issued on Saturday. The brokerage set a “hold” rating on the industrial products company’s stock.

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

Manitex International Trading Down 0.2 %

MNTX opened at $5.72 on Friday. The stock has a market cap of $116.67 million, a PE ratio of 12.44 and a beta of 0.77. The business has a 50 day moving average of $5.72 and a 200-day moving average of $5.07. Manitex International has a 52 week low of $3.07 and a 52 week high of $9.16. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Manitex International in the third quarter worth $69,000. Cutter & CO Brokerage Inc. boosted its stake in 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 worth $98,000 after purchasing an additional 3,340 shares in the last quarter. Marshall Wace LLP purchased a new stake in Manitex International during the 2nd quarter valued at about $128,000. Virtu Financial LLC bought a new stake in Manitex International during the 3rd quarter valued at about $248,000. Finally, Empowered Funds LLC purchased a new position in Manitex International in the third quarter worth about $480,000. Institutional investors 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.