On Oct 15, we issued an updated research report on The Manitowoc Company, Inc. MTW. The company is poised to gain from product innovation, backlog strength, focus on cost control and pricing actions. However, input cost inflation due to the steel tariffs remain a concern. Let’s analyze the factors in detail. Product Innovation: A Key Growth Driver Manitowoc’s new product pipeline continues to remain strong. In June 2018, the company hosted almost 800 customers, dealers, and investors at the Crane Days event in Shady Grove. The company discussed its new lean transformation initiatives and announced the introduction of five more cranes. One of these cranes launched is the MLC100 — the only American-made 100-ton class crawler in the industry. The production of MLC100 will begin in Shady Grove from first-quarter 2019. Manitowoc also previewed the new MCT 565 tower crane to more than 40 customers in China during the June-end quarter. Furthermore, the company shipped the first GRT8100 to a customer in the Middle East in June and has further orders scheduled for delivery. Strong Backlog, Order Wins to Buoy Results Manitowoc’s orders were pegged at $431 million in second-quarter 2018 — up 14% year over year. The company is witnessing higher year-over-year demand in the Americas and European regions. This can primarily be attributed to the recovering crane market as evident from the encouraging signs of growth in many of its key geographic markets. Further, backlog at the end of the second quarter of 2018 came in at $692 million, up 41% from the prior-year quarter, providing improved revenue visibility over the remainder of the year. For full-year 2018, Manitowoc affirmed revenue guidance of approximately $1.78-$1.85 billion. The company revised 2018 adjusted EBITDA guidance to $105-$115 million from the prior view of $100-$120 million. Pricing Actions will Help Counter Impact of Tariffs The imposition of the 25% tariff on steel will affect Manitowoc's results, moving ahead. The company will record $10 million of incremental input costs in second-half 2018, primarily related to steel and tariffs. Consequently, Manitowoc continues to execute its strategy to cover cost inflation through pricing actions. Further, the company remains focused on cost controls, reducing headcount, increasing productivity and eliminating waste. It has also been taking aggressive steps to support supply-chain partners to ensure timely delivery of components. Share Price Performance Manitowoc has lost around 42% in the past year, against the industry’s growth of around 8%. Zacks Rank & Key Picks Manitowoc currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same sector include HD Supply Holdings, Inc. HDS, AptarGroup, Inc. ATR and Cintas Corporation CTAS. All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. HD Supply has a long-term earnings growth rate of 15.7%. Its shares have gained 12% over the past year. AptarGroup has a long-term earnings growth rate of 20%. The company’s shares have rallied 15% in the past year. Cintas Corporation has a long-term earnings growth rate of 12%. The stock has surged 22% in a year’s time. The Hottest Tech Mega-Trend of All Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AptarGroup, Inc. (ATR): Free Stock Analysis Report Cintas Corporation (CTAS): Free Stock Analysis Report The Manitowoc Company, Inc. (MTW): Free Stock Analysis Report HD Supply Holdings, Inc. (HDS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research