Zacks Investment Research lowered shares of Manitex International (NASDAQ:MNTX) from a strong-buy rating to a hold rating in a research note published on Wednesday morning.

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. “

Separately, Roth Capital lowered Manitex International from a buy rating to a neutral rating and set a $10.00 price objective for the company. in a research report on Tuesday, November 7th.

Shares of Manitex International (MNTX) traded up $0.13 during trading on Wednesday, reaching $9.52. The company’s stock had a trading volume of 52,321 shares, compared to its average volume of 38,852. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 0.64. The stock has a market capitalization of $157.62, a price-to-earnings ratio of -7.87 and a beta of 2.02. Manitex International has a fifty-two week low of $6.21 and a fifty-two week high of $10.00.

Several institutional investors and hedge funds have recently bought and sold shares of MNTX. Dimensional Fund Advisors LP raised its position in shares of Manitex International by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 4,176 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Manitex International by 16.3% in the 2nd quarter. Victory Capital Management Inc. now owns 122,120 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 17,080 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Manitex International by 38.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 425,209 shares of the industrial products company’s stock worth $2,968,000 after purchasing an additional 117,447 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Manitex International by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 9,279 shares during the last quarter. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Manitex International in the 2nd quarter worth about $524,000. 65.29% of the stock is owned by hedge funds and other institutional investors.

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Manitex International Company Profile

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.

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