Manitex International, Inc. (NASDAQ:MNTX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Their boom trucks and crane products are primarily used in industrial projects, energy exploration and infrastructure development, including roads, bridges, and commercial construction. The Manitex Liftking subsidiary, which includes the Noble forklift product line, manufactures and sells a complete line of rough terrain forklifts and special mission oriented vehicles, as well as other specialized carriers, heavy material handling transporters and steel mill equipment. “

Several other equities research analysts have also recently issued reports on MNTX. Roth Capital set a $10.00 price target on Manitex International and gave the company a “buy” rating in a research note on Thursday, June 8th. ValuEngine cut Manitex International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

Manitex International (MNTX) opened at 8.25 on Thursday. Manitex International has a 52-week low of $4.98 and a 52-week high of $9.89. The company’s 50 day moving average price is $7.08 and its 200 day moving average price is $7.42. The company’s market cap is $136.55 million.

Manitex International (NASDAQ:MNTX) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.08. The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $44.35 million. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities research analysts anticipate that Manitex International will post $0.19 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/manitex-international-inc-mntx-downgraded-by-zacks-investment-research-to-hold/1467109.html.

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in shares of Manitex International during the fourth quarter valued at about $1,119,000. WealthTrust Axiom LLC boosted its stake in shares of Manitex International by 12.8% in the first quarter. WealthTrust Axiom LLC now owns 830,262 shares of the industrial products company’s stock valued at $5,562,000 after buying an additional 93,996 shares during the period. Essex Investment Management Co. LLC boosted its stake in shares of Manitex International by 73.5% in the first quarter. Essex Investment Management Co. LLC now owns 173,224 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 73,382 shares during the period. Shaker Investments LLC OH boosted its stake in shares of Manitex International by 82.4% in the first quarter. Shaker Investments LLC OH now owns 98,300 shares of the industrial products company’s stock valued at $659,000 after buying an additional 44,400 shares during the period. Finally, Boston Partners boosted its stake in shares of Manitex International by 41.5% in the first quarter. Boston Partners now owns 530,789 shares of the industrial products company’s stock valued at $3,556,000 after buying an additional 155,704 shares during the period. Institutional investors and hedge funds own 66.06% of the company’s stock.

About Manitex International

Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.

Get a free copy of the Zacks research report on Manitex International (MNTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Manitex International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitex International Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.