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

Miller Still Underfollowed And Undervalued

As Top Ideas go, Miller Industries (NYSE:MLR) hasn't really worked out so far. Up about 13% since my original late September piece, the shares have done alright compared to Spartan Motors (NASDAQ:SPAR) and Oshkosh (NYSE:OSK), but they've lagged the S&P 500 and Supreme Industries (NYSEMKT:STS). While none of these are particularly good comps (Supreme is more focused on truck bodies, Spartan on emergency response and delivery vehicles, Oshkosh on aerial work platforms, defense, and fire/rescue/refuse), I think the problem is that access to capital for small businesses (and most towing companies are smaller businesses) is still limited and Miller is an illiquid stock with no sell-side support.

I still believe this...

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