Manitex International Inc (NASDAQ: MNTX) has benefited from extremely meaningful positive changes in investment behavior: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
Positive development: the consensus estimate for December, 2023 increased significantly. Negative development: significant quarterly earnings deceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
MNTX is expected to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Manitex International has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Manitex International has a slightly negative Appreciation Score of 31 and a neutral Power Rating of 57, triggering the Low Neutral Value Trend Rating.
Recent Price Action
Manitex International Inc (NASDAQ: MNTX) stock enjoyed a very large increase of 8.7% on 11/10/23. The shares closed at $5.65. The stock has performed in line with the market over the last nine months and has risen 29.6% during the last week.
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