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Buy Navistar Ahead of Its Investor Day

Navistar International’s so-called earnings miss looks more like a beat the way Cramer sees it.

The truck maker on Wednesday reported 54 cents a share in profits, though the Street expected 60 cents. But when you consider that Navistar took a one-time charge worth 14 cents a share as a result of a new contract with the United Autoworkers, the company actually delivered a gain of 8 cents a share.

Of course, investors had to look deeper than the headline number for that information, so NAV took an initial $3 hit after the quarter and then closed down 3 percent for the day. Given what Cramer said about the one-time charge, though, is that dip an opportunity to buy this stock on the cheap?

Cramer thinks so, especially given what he sees as a bull market in the truck business. He first highlighted this bull run back in June, when he recommended Cummins , Paccar and Navistar as plays on it. Since then those stocks are up 59 percent, 38 percent and 6 percent, respectively. Will Navistar catch up? Cramer thinks so, considering that this is a solid company trading at a significant discount to Cummins and Paccar.

Navistar also has an analyst day coming up in January, and Cramer wants investors in the stock ahead of that. For more on this story, watch the video of his interview with CEO Dan Utisan.

When this story published, Cramer's charitable trust owned Cummins.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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