Tim Meador

Hurco: A Buy at the Current Price

Given the information I had available at the time, I think there was a good case to be made for buying Hurco at $31. I didn't expect, and I imagine many people didn't expect, for things to go south so quickly and completely as they did. At $14, Hurco was down 55% from the time I recommended it. That is worse than the market average, but given the cyclical industry it's in, it is not unreasonable. My fault for not recognizing the bottom was a long way off. I must say that I really like it at $14 a share for a long term investor, as there is plenty of upside when manufacturing restarts.