Monday, December 23, 2019

Manitex - New Management And A New Year, But Old Problems

Management matters, and that’s been proven over and over again in the market. Manitex (MNTX) has a new CEO now, one with directly relevant industry experience and success, and the company still has growth opportunities with its articulated/knuckle-boom crane business that is kinda-sorta new to the U.S. market. But the company also has very familiar old problems including cyclical end-markets, weak margins, and not much evidence of real value-creating momentum in the business.

Do I think Manitex can be run better than it has been? Absolutely. Do I think there’s a credible market opportunity for the company’s straight mast and articulated cranes that can support meaningfully higher revenue, margins, cash flows, and share prices? Yes. Do I think it’s worth the risk to own the shares and find out? That’s a harder call.

Read more here:
Manitex - New Management And A New Year, But Old Problems

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