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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
pixel
S&P 500   3,841.94
DOW   31,496.30
QQQ   308.68
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Zacks Investment Research Downgrades Manitex International (NASDAQ:MNTX) to Sell

Tuesday, February 23, 2021 | MarketBeat

Manitex International (NASDAQ:MNTX) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 started coverage on shares of Manitex International in a research report on Thursday, November 19th. They issued a "buy" rating and a $6.00 price target on the stock.

Manitex International stock opened at $7.82 on Tuesday. The company has a market cap of $154.77 million, a PE ratio of -12.22, a PEG ratio of 1.49 and a beta of 1.18. The company's 50-day moving average is $6.12 and its two-hundred day moving average is $4.92. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 0.36. Manitex International has a 1 year low of $2.76 and a 1 year high of $8.43.

Several large investors have recently made changes to their positions in MNTX. Shufro Rose & Co. LLC raised its position in shares of Manitex International by 18.4% in the 3rd quarter. Shufro Rose & Co. LLC now owns 180,500 shares of the industrial products company's stock valued at $753,000 after acquiring an additional 28,000 shares during the period. Essex Investment Management Co. LLC increased its stake in Manitex International by 3.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 219,585 shares of the industrial products company's stock worth $916,000 after purchasing an additional 7,150 shares in the last quarter. Royce & Associates LP increased its stake in Manitex International by 3.2% during the 3rd quarter. Royce & Associates LP now owns 777,923 shares of the industrial products company's stock worth $3,244,000 after purchasing an additional 24,032 shares in the last quarter. Cannell Capital LLC increased its stake in Manitex International by 17.9% during the 3rd quarter. Cannell Capital LLC now owns 312,029 shares of the industrial products company's stock worth $1,301,000 after purchasing an additional 47,463 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its stake in Manitex International by 14.2% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 16,119 shares of the industrial products company's stock worth $83,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company's stock.

About Manitex International

Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


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