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Performance - Week Ending 07/25/2014

July 26, 2014 – Comments (0) | RELATED TICKERS: INGR , TDW , HFC

The Wax Ink Portfolio was down 1.5% for the week. By comparison, the Dow was down 0.8%, the Nasdaq was up 0.4%, the S&P 500 was up 0.2%, the Russell 2000 was down 0.6%, and the Volatility Index, commonly known as the VIX, was up 5.2%.

Year to date, the Wax Ink portfolio is down 2.3%, the Dow is up 2.3%, the Nasdaq is up 6.4%, the S&P 500 is up 7.0%, the Russell 2000 is down 1.6%, and the VIX is lower by 7.5%.

The portfolio breakdown is 55% equities, 45% cash, and 0% bonds. There was no change to the total number of shares held.

This week's winners were refiner HollyFrontier Corporation (NYSE: HFC), up 4%, agricultural chemicals company Agrium, Inc. (NYSE: AGU), up 1%, and rubber king Goodyear Tire and Rubber Company (NYSE: GT), up 1%.

This week's punch bowl floaters were municipal/industrial construction company Layne Christensen (Nasdaq: LAYN), down 10%, pill maker Cubist Corporation (Nasdaq: CBST), down 4%, and maker of almost everything General Electric(NYSE: GE), down 3%.

The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 39% since being added to the portfolio, and municipal/industrial construction company Layne Christensen (Nasdaq: LAYN), down 46% since being added to the portfolio.

Worksheets were updated this week for:
Reliance Steel and Aluminum Company (NYSE: RS), Cabot Corporation (NYSE: CBT), The Western Union Company (NYSE: WU), NCR Corporation (NYSE: NCR), Ingredion Incorporated (Nasdaq: INGR), and Tidewater, Inc. (NYSE: TDW).

Rounding out the week, Value Alerts were issued this week for NCR Corporation, and Cabot Corporation.

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing. To access any worksheet in this post, click on the associated company name. Thanx.

Wax

Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2014 Wax Ink  [more]

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NCR Corporation Value Alert

July 23, 2014 – Comments (0) | RELATED TICKERS: NCR

Texas (July 23, 2014) Wax Ink has issued a No Investment Interest opinion for NCR Corporation (NYE: NCR), based on a recent intrinsic value review that placed fair value for the company between $26-$33.

A No Investment Interest opinion (hold) means that the current key performance indicators (KPIs) and associated financial metrics do not favor a position in this stock as an active investment at this time.

The recent close of $32.03 is approximately 102% above a fair value buy target for the stock and approximately 2% below a fair value close target for the stock. The recent close is also 22% below analysts’ twelve-month $41.00 median price target for the stock.

The recent close represents an 8% decline in the one-year price of the stock, while year-over-year sales increased 7%, year-over-year earnings increased 44%, year-over-year debt increased 68%, and year-over-year free cash flow increased 50%.

The company paid a dividend of $0.00, a year-over-year increase of 0%.

The stock currently has a trailing twelve-month PE Ratio of 12, and a PEG Ratio of 0.5 basis estimated forward earnings growth of 25.5%.

In the past 52 weeks, share prices have moved between a high of $41.63 and a low of $28.64, placing current equilibrium at $33.71. With the recent close, the stock is trading 30% below the 52 week high, 11% above the 52 week low, and 5% below current equilibrium.

The three-month average daily trading volume for this stock is approximately 2.31 million shares and the recent average daily trading volume is approximately 4.43 million shares. There are approximately 10.49 million short interest shares which places the days to cover at 4.19.

NCR Corporation provides products and services that enable businesses to connect, interact, and transact with their customers worldwide.

The company's listed competitors include Hewlett-Packard Company, International Business Machines Corporation, and Wincor Nixdorf Aktiengesellschaft.

Financial information contained in this alert, is basis the company's most recent annual SEC filing for year ending September 30, 2013. Unless otherwise noted, all prices are per share.

Disclosures
At this time Wax Ink has no investment position in any company mentioned in this alert. This alert is for use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D.

Wax Ink is a baseline equity research company not licensed or registered with any government agency focusing on long-term investment opportunities.

Copyright © 2014 Wax Ink  [more]

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Cabot Corporation Value Alert

July 21, 2014 – Comments (0) | RELATED TICKERS: CBT

Texas (July 21, 2014) Wax Ink has issued a Negative Investment Interest opinion for Cabot Corporation (NYE: CBT), based on a recent intrinsic value review that placed fair value for the company between $36-$44.

A Negative Investment Interest opinion (sell) means that the current key performance indicators (KPIs) and associated financial metrics do not favor a position in this stock as an active investment at this time.

The recent close of $56.92 is approximately 162% above a fair value buy target for the stock and approximately 27% above a fair value close target for the stock. The recent close is also 15% below analysts’ twelve-month $67.00 median price target for the stock.

The recent close represents a 42% increase in the one-year price of the stock, while year-over-year sales increased 5%, year-over-year earnings decreased 18%, year-over-year debt decreased 8%, and year-over-year free cash flow increased 2%.

The company paid a dividend of $0.80, a year-over-year increase of 5%.

The stock currently has a trailing twelve-month PE Ratio of 26, and a PEG Ratio of 5.2 basis estimated forward earnings growth of 5%.

In the past 52 weeks, share prices have moved between a high of $61.46 and a low of $39.00, placing current equilibrium at $55.57. With the recent close, the stock is trading 8% below the 52 week high, 32% above the 52 week low, and 2% above current equilibrium.

The three-month average daily trading volume for this stock is approximately 0.276 million shares and the recent average daily trading volume is approximately 0.224 million shares. There are approximately 0.627 million short interest shares which places the days to cover at 2.08.

Cabot Corporation operates as a specialty chemicals and performance materials company.

The company's listed competitors include Aditya Birla Nuvo Limited, Evonik Degussa GmbH, and Sid Richardson Carbon and Energy Company.

Financial information contained in this alert, is basis the company's most recent annual SEC filing for year ending September 30, 2013. Unless otherwise noted, all prices are per share.

Disclosures
At this time Wax Ink has no investment position in any company mentioned in this alert. This alert is for use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D.

Wax Ink is a baseline equity research company not licensed or registered with any government agency focusing on long-term investment opportunities.

Copyright © 2014 Wax Ink  [more]

Recs

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Performance - Week Ending 07/18/2014

July 19, 2014 – Comments (0) | RELATED TICKERS: PBI , WNR , DO

The Wax Ink Portfolio was up 1.7% for the week. By comparison, the Dow was up 0.9%, the Nasdaq was up 0.4%, the S&P 500 was up 0.5%, the Russell 2000 was down 0.7%, and the Volatility Index, commonly known as the VIX, was basically unchanged.

Year to date, the Wax Ink portfolio is down 0.8%, the Dow is up 3.2%, the Nasdaq is up 6.1%, the S&P 500 is up 7.0%, the Russell 2000 is down 1.0%, and the VIX is lower by 12.1%.

The portfolio breakdown is 55% equities, 45% cash, and 0% bonds. There was no change to the total number of shares held.

This week's winners were specialty contractor URS Corporation (NYSE: URS), up 13%, specialty chemicals company WR Grace Company (NYSE: GRA), up 5%, and agricultural chemicals company Agrium, Inc. (NYSE: AGU), up 4%.

This week's punch bowl floaters were pill maker Cubist Pharmaceuticals, Inc. (Nasdaq: CBST), down 4%, building materials company Griffon Corporation (NYSE: GFF), down 3%, and infrastructure supplier LB Foster Company(Nasdaq: FSTR), down 2%.

The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 38% since being added to the portfolio, and municipal/industrial

construction company Layne Christensen (Nasdaq: LAYN), down 40% since being added to the portfolio.

Worksheets were updated this week for:
Seaboard Corporation (AMEX: SEB), Western Refining, Inc. (NYSE: WNR), Pitney Bowes, Inc. (NYSE: PBI), and Diamond Offshore Drilling, Inc. (NYSE: DO).

Rounding out the week, Value Alerts were issued this week for Seaboard Corporation, and Pitney Bowes, Inc..

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing. To access any worksheet in this post, click on the associated company name. Thanx.

Wax

Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2014 Wax Ink   [more]

Recs

1

Pitney Bowes Value Alert

July 17, 2014 – Comments (0) | RELATED TICKERS: PBI

Texas (July 17, 2014) Wax Ink has issued a Negative Investment Interest opinion for Pitney Bowes, Inc. (NYE: PBI), based on a recent intrinsic value review that placed fair value for the company between $20-$26.

A Negative Investment Interest opinion (sell) means that the current key performance indicators (KPIs) and associated financial metrics do not favor a position in this stock as an active investment at this time.

The recent close of $28.13 is approximately 137% above a fair value buy target for the stock and approximately 15% above a fair value close target for the stock. The recent close is also 6% below analysts’ twelve-month $30.00 median price target for the stock.

The recent close represents a 102% increase in the one-year price of the stock, while year-over-year sales decreased 1%, year-over-year earnings increased 62%, year-over-year debt decreased 17%, and year-over-year free cash flow increased 36%.

The company paid a dividend of $0.93, a year-over-year decline of 37%.

The stock currently has a trailing twelve-month PE Ratio of 14, and a PEG Ratio of (14) basis estimated forward earnings growth of (1%).

In the past 52 weeks, share prices have moved between a high of $28.24 and a low of $13.76, placing current equilibrium at $25.77. With the recent close, the stock is trading 0.4% below the 52 week high, 51% above the 52 week low, and 8% above current equilibrium.

The three-month average daily trading volume for this stock is approximately 1.73 million shares and the recent average daily trading volume is approximately 1.66 million shares. There are approximately 18.6 million short interest shares which places the days to cover at 13.8.

Pitney Bowes is a global provider of technology solutions helping small, mid-sized and large firms connect to customers to build loyalty and grow revenue.

The company's listed competitors include Neopost S.A., Xerox Corporation, and Canon, Inc..

Financial information contained herein, was extracted from the company's most recent annual SEC filing for year ending December 31, 2013 and all prices are per share unless otherwise noted.

Disclosures
At this time Wax Ink has no investment position in any company mentioned in this alert. This alert is for use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D.

Wax Ink is a baseline equity research company not licensed or registered with any government agency focusing on long-term investment opportunities.

Copyright © 2014 Wax Ink  [more]

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