Saturday, August 2, 2014

Seeking Alpha: A High Multiple And Weak Performance Slam Manitowoc

I was concerned about Manitowoc's (NYSE:MTW) valuation last quarter, as well as the inconsistent outlook from Manitowoc and Terex (NYSE:TEX) regarding their crane businesses. Now, with another quarter and lowered guidance in the books, it looks like 2014 isn't going to be the year that investors hoped it would be. I do have some concerns regarding competitive inroads from the likes of Tadano (6395.JP) and even with this big pullback on Thursday, Manitowoc shares don't exactly look cheap. Undervalued machinery names are pretty rare these days, though, and Manitowoc has a restructuring/spin-off angle so there could be some potential later in the year as investors start looking to 2015, but I'd be a little more careful around the shares today.

Read more here:
A High Multiple And Weak Performance Slam Manitowoc

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