USAP I still like them, although I'd like to get a dip at least .. maybe to the lower 6's. Backlog has grown sequentially for the past like six quarters, and sometimes dramatically, sometimes hugely. And they are in certain sectors which are rebounding, namely aerospace and I guess some defense. The stock has been wayyyyy higher in the past. They trade at like 28% if book value. Now a lot of that is prop plant and equip, but I believe they own a bunch of their properties.
Again, I think you buy the dip if we really get a decent one. I mean at least 10+ percent. Otherwise I'd still like to buy prior to next quarters earnings report.
Now, management could be so messed up that they cant turn a profit no matter what. Thats possible. But with the sector they are in, the backlog they have that is growing strongly, and the tremendous book value... I think its worth a shot on a dip. The negative are as I mentioned and you allude to, seemingly very poor management plus their debt has been increasing to levels which may be of concern.
best.
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