Shares of Manitex International, Inc. (NASDAQ:MNTX) have been performing well lately on the back of increase in orders, industry activity and market share in each of its key product categories. The provider of engineered lifting and loading products has witnessed its shares surge around 62.5% in the past three months. The company has outperformed its industry’s gain of 9.4% by a significant margin.
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Manitex International, Inc. (MNTX): Free Stock Analysis Report
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Manitex has a market cap of roughly $187 million and average volume of shares traded in the last three months is around 61K. The company has an average positive earnings surprise of 181.25% in the trailing four quarters.
Let’s take a look into the factors that are driving this Zacks Rank #2 (Buy) stock of late.
Driving Factors
Manitex’s first-quarter 2018 adjusted net income came in at 5 cents per share, a significant turnaround from the adjusted net loss of 14 cents per share in the prior-year quarter. Analysts polled by Zacks had expected breakeven results for the quarter.
At the end of the quarter, backlog was at $88 million, representing growth of 43% year to date. First-quarter book to bill ratio increased to 1.44 from 1.25 for the fourth quarter of 2017.
Robust backlog along with strong order flow in April positions the company for improved sales in 2018. Manitex’s margins will improve on the back of manufacturing throughput and efficiency gains, as well as repricing actions implemented to offset steel cost increases.
The company is witnessing strengthening global demand across its product lines and geographies, particularly led by Manitex straight-mast cranes, where the company’s market share has grown to 50% from 39% at the end of last year. Industry orders for straight-mast cranes are currently at levels not observed since the 2012-2014 period.
Estimates Moving Up
Positive estimate revisions reflect optimism in the company’s potential as earnings growth is often an indication of robust prospects (and stock price gains) ahead. Estimates for Manitex have moved up in the past 60 days, reflecting analysts’ optimistic outlook.
The Zacks Consensus Estimate for 2018 has moved up 6% and is pegged at 53 cents per share. This reflects an impressive year-over-year growth of 165%. The Zacks Consensus Estimate for 2019 has moved up 7% to 80 cents, reflecting year-over-year growth of 52%.
Zacks Rank & Stocks to Consider
Other top-ranked stocks in the same sector include Caterpillar Inc. (NYSE:CAT) , Terex Corporation (NYSE:TEX) and H&E Equipment Services, Inc. (NASDAQ:HEES) . While Caterpillar and Terex sport a Zacks Rank #1 (Strong Buy), H&E Equipment Services carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has a long-term earnings growth rate of 13.3%. The stock has appreciated 52% in a year’s time.
Terex has a long-term earnings growth rate of 20.2%. Its shares have rallied 26% in the past year.
H&E Equipment has a long-term earnings growth rate of 17.4%. The company’s shares have surged around 102% during the past year.
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Terex Corporation (TEX): Free Stock Analysis Report
Caterpillar Inc. (CAT): Free Stock Analysis Report
H&E Equipment Services, Inc. (HEES): Free Stock Analysis Report
Manitex International, Inc. (MNTX): Free Stock Analysis Report
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