Post by
DTM5 on Mar 03, 2011 3:57pm
Bid now .85 - Still to cheap!!
And the ask is .89. No sellers taking the bait, still looks like it wants to run.
Even at $1 this has a market cap of 22 million; Its still cheap! Why?
Here's some Key Ratios vs. the competition
AIT: Price to book 2.31
WJX: Price to book 3.17
KAMN: Price to book 2.38
CSA: Price to book 0.98 - less than 1/2!!
AIT: Price to Sales 0.66
WJX: Price to Sales 0.57
KAMN: Price to Sales 0.69
CSA: Price to Sales 0.19 - Less than 1/3!!!
Of course CSA has a higher debt level (which is coming down) and is just turning earnings positive - So it won't have the same valuation - Yet.
But is there another distributor that offers direct exposure to Western Canada and the oil / Gas sector?
Back in 2007 this company had sales of 156 million - 65% higher than current. Although it looks a long shot to go back to those levels near term, no doubt sales will continue upward.
OK I sound like a pumper so my next post will be my criticisms. And I have several. But i'm still long.