Manitex International, Inc. (NASDAQ:MNTX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Manitex International, Inc. (NASDAQ:MNTX) from a buy rating to a hold rating in a research note issued to investors on Friday, October 27th.

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, ValuEngine raised shares of Manitex International from a sell rating to a hold rating in a report on Monday, August 7th.

Shares of Manitex International (NASDAQ MNTX) opened at $8.05 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. Manitex International has a 1-year low of $5.12 and a 1-year high of $9.89. The company has a market cap of $133.28, a P/E ratio of 50.31 and a beta of 2.07.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. boosted its position in Manitex International by 35.0% during the second quarter. Wedbush Securities Inc. now owns 14,658 shares of the industrial products company’s stock valued at $102,000 after buying an additional 3,800 shares during the period. Dimensional Fund Advisors LP raised its stake in Manitex International by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock worth $911,000 after buying an additional 4,176 shares in the last quarter. Vanguard Group Inc. raised its stake in Manitex International by 1.8% in the second quarter. Vanguard Group Inc. now owns 520,258 shares of the industrial products company’s stock worth $3,632,000 after buying an additional 9,279 shares in the last quarter. Auxier Asset Management raised its stake in Manitex International by 4.9% in the second quarter. Auxier Asset Management now owns 201,881 shares of the industrial products company’s stock worth $1,409,000 after buying an additional 9,500 shares in the last quarter. Finally, Morgan Stanley raised its stake in Manitex International by 2.6% in the first quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 9,980 shares in the last quarter. Institutional investors and hedge funds own 60.71% 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.

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