Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

A Slower Recovery Threatens Manitowoc's Ambitious Multiple

Investors have been waiting for the boom/bust crane cycle to fuel another upswing in Manitowoc's (NYSE:MTW) results, but the actual recovery in construction and infrastructure activity has proven slower and less stable than hoped. Management remains confident that the outlook for 2014 hasn't changed all that much, but investors clearly voted with their feet, as the weak first-quarter results sent the shares down 10% on Friday. Even after the decline, Manitowoc isn't all that cheap, but it does remain a leveraged play on that recovery in construction and construction equipment spending.

Cranes Lower The Boom On Q1 Results

Revenue fell 5% for the first quarter and came in about 7% lower than expected, due entirely to weaker...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details