Manitex International, Inc. (NASDAQ:MNTX)

CAPS Rating: 5 out of 5

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Member Avatar Irishmate (27.51) Submitted: 4/30/2014 2:36:14 PM : Outperform Start Price: $16.26 MNTX Score: -42.01

Great small cap with plenty of growth ahead.

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Member Avatar rmorlows (< 20) Submitted: 11/18/2013 1:34:19 PM : Outperform Start Price: $12.10 MNTX Score: -24.24

After re-reading (is that a word?) "The Motley Fool Investment Guide" MNTX has many of the characteristics of a great growth stock:
1) Sales: $205M
2) Daily Dollar Volume: <$3M
3) Low Share Price: Purchased at $12.10
4) Net Profit Margin: 10% or more
5) Relative Strength: fellow Fools feel good about MNTX?
6) Earnings and Sales Growtth: Solid 5 Yr Growth Rate
7: Insider Holding: Shares Held looks reasonable
8. Cash Flow: Positive in the near future

Please comment and let me know if I am getting something fundamentally wrong. MNTX is rated a Strong Buy and Buy from many ratings agencies and earlier in the week had a PEG of ~0.8. I felt pretty good buying 75 shares at $12.10 this morning to test the waters and am confident in MNTX outperforming in the next 5 plus years.

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Member Avatar K28hill (21.50) Submitted: 11/5/2013 10:42:59 AM : Outperform Start Price: $13.04 MNTX Score: -33.18

Low 5yr PEG, 40%+ growth expectations

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Member Avatar mootus63 (< 20) Submitted: 10/18/2013 10:29:58 PM : Outperform Start Price: $13.31 MNTX Score: -35.96

Strong business model, has numerous contracts in the pipeline. Commercial construction most likely will recover before residential, and this is a large part of the market the company serves.

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Member Avatar ScalaAnalyst (< 20) Submitted: 9/24/2013 5:20:21 PM : Outperform Start Price: $11.00 MNTX Score: -22.75

On MNTX 20130925
Manitex International operates with two divisions. They build equipment that are used to perform heavy moving and lifting and they have a equipment distribution segment. They support energy exploration and industrial projects. The sell heavy equipment to organizations that engage in infrastructure development for roads, bridges. Some of their equipment is designed to move through rough terrain for special material handling for the civil, railroad and military construction industries.

Quick overview

The insiders own 15% of the company, so they have a vested interest in keeping the company on track. They trade about 1.1M dollars daily so they are just inside of my 'market liquidity' bounds for my tastes. They don't pay any dividends so the earnings they make is used to grow the assets of the company. They have a MC of 142.63M and generate Sales of 232.02M per year. Their income is 9.08M giving them a EPS of 0.74/sh, PE of 15.53 and a PEG of 0.34 the price of this stock appears to be undervalued. They do have a debt/equity Ratio of 0.82 which is a little high, but this may be due to their recent acquisition.

They do have competitors, but they are a small company with a Market cap of 123.69M. This gives them some room to grow. With a reported sales growth of 44.20% and an income growth of 190.50% one will need to delve into their earnings and income statement to see where these numbers come from. They recently acquired Sabre Manufacturing LLC for 14 million. Sabre manufactures specialized trailer tanks for liquid and solid storage and containment solution based in North America. This acquisition should have a positive impact on earnings for the latter half of 2013.

Income Statement

The last 5 years has shown some good growth. The year 2012 was probably the best complete annual. The total Revenue growth, Gross Profit growth, Operating Income Growth and Net Income growth was quite stellar. Their earning per share moved from 0.24/sh for 2011 to 0.68/sh for 2012. Can they continue this for 2013 and 2014? Looking at 2013Q1 and 2013Q2 it appears they have already started. Q1 EPS was 0.16/sh and Q2 was 0.22/sh. Analysts estimates that Q3 will be 0.22/sh and Q4 to 0.27/sh giving us a total of 0.87/sh. If they can make these marks then that would be an earnings growth of 27.9%, which would be quite favorable. The other good news is that they have manged to beat street estimates this last two quarters so there may be some icing on the cake in the next two quarters.

Balance Sheet

Once again they are looking quite strong. 2012 was a strong year and they were able to increase their Total Equity from 121.6M to 151.5M showing a Equity growth of 24.3%. Once can see that their Payables increased due to the new Long Term Debt, but this was expected when acquiring a new company. Apparently they used about 4 million of their own cash and financed the difference. But now they have increased their assets which I'm sure will pay for themselves in a few short years. Looking at the quarter reports, I don't see any changes in their Receivables nor their Inventories that would be of a concern.

Cash Flow

Naturally, there are some changes in their Cash Flow. In 2012 they started a little low, but ended up with a positive 1.5M to start the new year. In the following quarters the cash flow was affected due to financing activities, but not enough close the doors. They still have 1.3M laying around to keep operations moving. They are able to keep money coming as income to pay off their debt and operating expenses. If this continues in a positive direction and they can pay off their debt in a reasonable fashion, then this company will come out looking very good in the years ahead.

Earnings

Here the company really looks good. They have managed to consistently beat street estimates by 20%. If the company can continue to do this, then it will be easy to collect the earnings and put them in the bank. I believe that this company will grow by at least 20% over the next 5 years which would easily be called success.

My take

So, I would say that buying shares of this stock at the 11.30/sh level would be a good investment. If you could come in at 10.something/sh then that would be awesome. In five years if they get to 30/sh I would be comfortable with that. if this company fell to 8.00, I would need to figure what when wrong, but if is was just market jitters, I probably would back up a truck and buy as many shares as I could load.

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Member Avatar rknapton (< 20) Submitted: 8/22/2013 4:27:22 PM : Outperform Start Price: $10.42 MNTX Score: -20.95

Long. Crane and heavy machinery manufacturer is growing revenues nicely. $205M 2012 up from just $95M in 2010. Last quarter saw 19% revenue growth and 15% earnings growth. Trading at 15x ttm, and 10x fye earnings. Analysts have been slightly revising estimates up.

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Member Avatar TMFPennyWise (< 20) Submitted: 3/19/2013 4:57:36 PM : Outperform Start Price: $10.71 MNTX Score: -31.37

I like this micro cap but I guess I'm not alone since I see Manitex has a five star CAPs rating.

I listened to the latest earnings call 3/2013 and liked what I heard. The CEO of this promising industrial firm seems to have a clear plan for the next 12 months and beyond. Manitex's strength is in its highly engineered lift equipment, especially for rough terrains--the CEO outlined organic growth opportunities in the oil fields here in the States and in developing markets abroad.

Indeed, as American manufacturing improves in the near and mid-term certainly Manitex will benefit from those successes too, as the firm not only manufactures a wide range of lifts but distributes other brands across the country as well. In addition the CEO didn't rule out making attractive acquisitions as they have in the past.

For 2012 Manitex reported EPS Growth TTM vs. Prior TTM of 172%; and Revenue Growth TTM vs Prior TTM of 42%. Their P/E TTM of 15.99 as of 3/28/2013 is in line or better than their industry's average.

MNTX is speculative but worth a second look if you're interested in picking up a nice industrial micro chip and I forecast a lot of growth for this one. I am long on MNTX.

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Member Avatar line70day (< 20) Submitted: 8/26/2012 5:23:14 PM : Outperform Start Price: $7.45 MNTX Score: +0.20

zacks #1 stocl
beat earnings last sevenQ
estimets move higher
large earnings

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Member Avatar JMUInvestor (< 20) Submitted: 8/21/2012 3:16:54 AM : Outperform Start Price: $8.06 MNTX Score: -9.93

Competitive business model, out of their top ten competitors they have outperformed all of them but one in the last 6 months as well in the last three. EPS forecast is inline to value this security at aroun $9.50 per share for YE12.

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