Manufacturer of cabin interior products for commercial aircraft and business jets and an aftermarket distributor of aerospace fasteners. The Company sells its manufactured products directly to the airlines and airframe manufacturers.
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Strategic acquisitions expand their reach into new markets and add to their product line. As a play on commercial aircraft sector, BEAV has the leading position in the industry for aircraft cabin interiors. In other words, all those planes that Boeing and Airbus sell are basically just empty shell, and the airlines contract with BE to put in seats and galleys so that they can actually fly passengers. Plus they have a hug retrofit/refit business with airlines as they upgrade and spruce up older aircraft. Earnings will be accelerating through the end of this year and through 2007 -- the company just announced this a couple of weeks ago. They've refinanced and reconfigured their debt, extending it out to 2011 and 2012 on more favorable terms. (Their Coverage Ratio is about 2.4.) The stock has been consolidating in the $20 - $24 range over the past three months after a HUGE run over the past two - three years. Buy in this range. I expect $34 - $40 over the next two - three years, yielding 18 - 20% CAGR.