What Next for Manitex International, Inc. (MNTX) After Forming Bullish Multiple Top Pattern?

June 19, 2018 - By Louis Casey

Investors sentiment decreased to 1.19 in 2018 Q1. Its down 0.28, from 1.47 in 2017Q4. It is negative, as 5 investors sold Manitex International, Inc. shares while 21 reduced holdings. 18 funds opened positions while 13 raised stakes. 9.70 million shares or 1.96% less from 9.90 million shares in 2017Q4 were reported.
31,138 are held by Goldman Sachs Grp Inc. Columbia Ptnrs L L C Investment Management reported 0.17% in Manitex International, Inc. (NASDAQ:MNTX). Cove Street Cap Lc holds 0.13% or 100,000 shares in its portfolio. Auxier Asset Mngmt invested 0.46% of its portfolio in Manitex International, Inc. (NASDAQ:MNTX). Cortina Asset Mgmt Limited Liability Corporation has 562,921 shares for 0.32% of their portfolio. Susquehanna Int Gru Llp reported 43,261 shares or 0% of all its holdings. Rutabaga Capital Mgmt Limited Co Ma reported 1.33% of its portfolio in Manitex International, Inc. (NASDAQ:MNTX). 5 were accumulated by Royal Bancorporation Of Canada. Perritt Capital Mgmt reported 188,733 shares. First Wilshire Mgmt accumulated 515,414 shares. Monarch Prtnrs Asset Mngmt Ltd Com has invested 0.05% in Manitex International, Inc. (NASDAQ:MNTX). Invesco Limited has 0% invested in Manitex International, Inc. (NASDAQ:MNTX) for 32,189 shares. Adirondack Rech & reported 148,971 shares. Awm Inv has invested 1.07% in Manitex International, Inc. (NASDAQ:MNTX). Geode Mgmt Lc invested 0% in Manitex International, Inc. (NASDAQ:MNTX).

The stock of Manitex International, Inc. (MNTX) shows a multiple tops pattern with $12.84 target or 7.00 % above today’s $12.00 share price. The 7 months chart pattern indicates low risk for the $235.05 million company. It was reported on Jun, 19 by Finviz.com. If the $12.84 price target is reached, the company will be worth $16.45 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.56% or $0.19 during the last trading session, reaching $12. About 103,276 shares traded or 62.62% up from the average. Manitex International, Inc. (NASDAQ:MNTX) has risen 66.90% since June 19, 2017 and is uptrending. It has outperformed by 54.33% the S&P500.

Analysts await Manitex International, Inc. (NASDAQ:MNTX) to report earnings on August, 2. They expect $0.12 EPS, up 100.00 % or $0.06 from last year’s $0.06 per share. MNTX’s profit will be $2.35M for 25.00 P/E if the $0.12 EPS becomes a reality. After $0.05 actual EPS reported by Manitex International, Inc. for the previous quarter, Wall Street now forecasts 140.00 % EPS growth.

Manitex International, Inc. (NASDAQ:MNTX) Ratings Coverage

Among 2 analysts covering Manitex International (NASDAQ:MNTX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Manitex International has $1300 highest and $12.0 lowest target. $13’s average target is 8.33% above currents $12 stock price. Manitex International had 3 analyst reports since February 8, 2018 according to SRatingsIntel. Roth Capital upgraded the shares of MNTX in report on Thursday, February 8 to “Buy” rating. The rating was maintained by Seaport Global with “Buy” on Wednesday, April 18. The company was maintained on Wednesday, February 7 by Seaport Global.

More recent Manitex International, Inc. (NASDAQ:MNTX) news were published by: Seekingalpha.com which released: “Manitex Adds A Strategic Partner” on May 29, 2018. Also Streetinsider.com published the news titled: “Manitex Int’l (MNTX) Makes $32.7 Million Equity Investment by Tadano” on May 25, 2018. Globenewswire.com‘s news article titled: “Manitex International, Inc. Announces $32.7 Million Equity Investment by Tadano, Ltd.” with publication date: May 25, 2018 was also an interesting one.

Manitex International, Inc. provides engineered lifting and loading products worldwide. The company has market cap of $235.05 million. The firm operates through three divisions: Lifting Equipment, ASV, and Equipment Distribution divisions. It currently has negative earnings. The Lifting Equipment segment designs, makes, and distributes boom trucks and crane products that are used for industrial projects and energy exploration, as well as for roads, bridges, and residential and commercial construction; and specialized rough terrain cranes and material handling products for the construction, municipality, and railroad industries, as well as truck-mounted aerial platforms and sign cranes.

Manitex International, Inc. (NASDAQ:MNTX) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.