Thank you SSKILLZ1
as I have no doubt that If one of the bigger Poultry companies wanted to purchase this company, that $50 million Market cap is verrry Low. They have several plants and equipment, and customers certainly worth more the current mkt cap.... as I think they will continue to have strong Balance sheet. I think one can own this stock with little long term risk.. as history will repeat.. IMO.
Short term however, given last year NI of $6.5 will be damaging... They will not match last year's number... that $6.5 was due to sale of Cagle’s Keystone LLC for The purchase price is $28,000,000 cash...
I conclude that it will take between $85 to $90 million in revs to get a TTM positive NET Income. But based on earlier post about rev predict using US data, the $85 + will not happen.
Theory..that last pop 8/4/07 was on the 10Q PR report but likely MM or one trader pushed it up on low float and fact this stock is not widely traded... Now they took profit, maybe? and what will this commodity price do this next Q? I do think bird price can go higher! Am I missing a capacity expansion or something?
I'm not sure folks will like what they see after report compares Y on Y. I'm gonna wait a bit here...
My food stocks are.....
LWAY - Just covered short from $19 high... looking for new long position.
GXYF.OB - buying on new management and future stable sales resulting is consistent NI.. and subway founder to sneak something big in this coming year.
VSF - slow accumulation buying on new mgt to make mark; waiting 12/06 non-cash write off to go away with continued earnings... ahead of the crowd on this one.. is timing good?
SENEA - Good strong safe stock for all the reasons you know
MGPI - Shorts have started to cover (3 months now); was high on Ethanol.. but this is food grade.. I think MGPI to have good forward Q's...
PSTA - Three solid Q's and PE to replace last year non-cash write off. Investor Summit presentation could get watchers into buyers after this 10Q.
OFI - I like and will likely take a position soon. I'm sure OFI will see 6 again.
No need to tell me you "could be wrong"...LOL.. Picking any stock, at any time, anyone can be wrong! It is everyone's own responsibility to decide when to click a buy or sell.
And always appreciate a good opinion.
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