HURC - Hurco Leveraging Improving Demand But Orders Need To Be Watched
- Hurco posted solid year-over-year revenue growth and impressive margin leverage, but sequential weakness in orders merits close monitoring.
- The weakness in orders could be a "blip" tied to customer labor and supply chain constraints, but it may also be signalling the end of this recent capex refresh/expansion cycle.
- Hurco shares remain undervalued below $40, but short-cycle industrials are out of favor and Russia's war in Ukraine is starting to threaten increasing headwinds for the industrial sector.
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Hurco Leveraging Improving Demand, But Orders Need To Be Watched