The Panic-Proof Portfolio (Stockchase Research)
Cornerstone Building Brands, Inc.
CNR-N
PAST TOP PICK
Nov 24, 2020
(A Top Pick Sep 08/20, Up 27.8%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK in CNR has achieved its $9.50 objective. To be disciplined, we are recommending covering 50% of the position and trailing up the stop to $7.50 – just above our initial buy recommendation.
Stockchase Research Editor: Michael O'Reilly CNR just reported earnings and the stock jumped over 20%. EPS increased 50% to $0.21 per share (including a sizable tax gain), when the market was expecting a net loss and the company has a record order backlog. The company designs and manufacturers building products for non-residential construction, siding and windows. The surge in the stock price is too rich to chase -- we would look to enter in on a pullback to $7.50. We would then look for re-test of highs back near $9.25 -- over 20% upside. Yield 0%
Stockchase Research Editor: Michael O'Reilly We are being rewarded for being patient. We suggested to buy this on weakness on a pullback. CNR recently reported earnings and the stock jumped over 20%. EPS increased 50% to $0.21 per share (including a sizable tax gain), when the market was expecting a net loss and the company has a record order backlog. The company designs and manufacturers building products for non-residential construction, siding and windows. We would trade this with a stop-loss at $6.50, with a target to revisit $9.50 (25% upside). Yield 0% (Analysts’ price target is $10.51)
(A Top Pick Sep 08/20, Up 97.5%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with CNR is progressing well. We recommend trailing up the stop (from $7.50) to $12.00. This would all but guarantee a minimum return on investment of 44%, including the previous recommendation to cover 50% of the position.
(A Top Pick Aug 25/20, Up 150.7%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with CNR is progressing well. We recommend trailing up the stop (from $12) to $15. This would all but guarantee a minimum return on investment of 64%, including the previous recommendation to cover 50% of the position.
(A Top Pick Sep 08/20, Up 101.8%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with CNR has triggered its stop at $15. We recommend covering the remainder of the position at this time. Combined with the previous recommendation to cover 50%, this results in a net investment return of 64%. We will watch for a future re-entry position.
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