Signs Of A Slowdown For Hurco Getting Harder To Ignore

The slowdown in industrial demand that the market has been pricing into stocks since mid-2018 seems to now be showing up in some of the numbers, as the December ISM new orders figure saw a double-digit drop and German factory orders just posted the biggest decline (a little over 4%) in six years. Japanese machine tool orders went negative earlier in the fall, and it is looking as though weakness in China has spread into Europe and may be starting to show in North America.

None of this is good for Hurco (HURC), but it’s not exactly unexpected, as the shares have fallen close to 20% in the last six months. That puts Hurco’s performance a little below the average industrial and in between larger competitors like DMG Mori (OTCPK:MRSKY) and Okuma (OTC:OKUMF), and valuation is already starting to anticipate some revenue and profit declines in the coming years.

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Signs Of A Slowdown For Hurco Getting Harder To Ignore