Back to top

Analyst Blog

On Oct 8, Zacks Investment Research upgraded Manitex International, Inc. (MNTX - Snapshot Report), provider of engineered lifting solutions, to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

Share price and earnings estimates for Manitex have been trending upward on the back of strong second-quarter 2013 results reported on Aug 7. Manitex delivered positive earnings surprises in three of its last four quarters with an average beat of 12.7%. The long-term expected earnings growth rate for this stock is 20%.

Manitex reported second-quarter 2013 earnings of 22 cents per share, up 10% year over year, and ahead of the Zacks Consensus Estimate of 20 cents. The growth was led by the execution of its strategy of marketing niche products.

In August, Manitex completed its previously announced acquisition of Sabre Manufacturing LLC, for $14 million. The acquisition will provide Manitex an opportunity to expand its offerings in the specialized equipment market and energy sector.

The Sabre acquisition will be a good fit for the company as it will provide further diversification of product line and end markets and lead to an above-average upside. The buyout also brings in various growth opportunities in the existing sales distribution network of Manitex.

The company expects to generate 50% of its sales from the energy area and the balance from general commercial markets. Manitex remains committed to introduce ground breaking products with the introduction of the Manitex TC 70 crane which will provide significant sales upside.

The Zacks Consensus Estimate for 2013 increased 3.6% to 86 cents per share over the last 90 days. For 2014, the Zacks Consensus Estimate rose by 6.2% to $1.20 per share in the same time period.

Other Stocks to Consider

Colfax Corp. (CFX - Analyst Report) with a Zacks Rank #1 (Strong Buy), and Dover Corp. (DOV - Analyst Report) and Ingersoll-Rand plc (IR - Analyst Report) carrying a Zacks Rank #2 (Buy) are performing well in the same industry and are also worth considering.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%