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

Manitex Misses, But May Be Building Momentum

With Terex (NYSE:TEX) and Manitowoc (NYSE:MTW) both disappointing the Street this quarter, and showing weak results from their crane businesses, the writing was on the wall for Manitex (NASDAQ:MNTX) and the company did miss all the way down its income statement. The bright side is that Manitex seems to be doing better on a relative basis and may well be gaining share in North America. Increased light construction and energy activity could help results in the second half, and management remains committed to building a larger growth-oriented enterprise in engineered lifting. Manitex continues to look undervalued, and while it is a riskier play on improving crane demand with those extra risks could come extra...

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