Bay Street is too stupid to value this company properlyCurrently trading at around 6.5x trailing adjusted net income, with the company's financials improving every quarter. This stock should be trading >13x trailing earnings for $90+ CAD if it were valued at historically reasonable valuation multiples (including EV/EBITDA which would put it around $120).
The company's buyback program is a joke (only getting permission to buy 600k shares for the year, and even then not buying them all when the SP trades in the 30s/40s?) and allows the shareprice to get abused. Textron in the US is trading at just 5.5% off its all-time high, while buying back hundreds of millions in stock every quarter; meanwhile we're lucky if Bomber can scrounge together a few million to do buybacks at insanely low SP (note that I'm not asking for a lot; even $50M CAD for the year would make shorts/sellers think twice about selling at such low prices). If the Street is stupid enough to trade your company stock at absurdly low prices, you should be self-privatizing as much as possible.