Opinions
Pat Naccarato
Furniture Brands International Inc.
FBN-N
TOP PICK
Apr 26, 2007
Volume of furniture manufacturing has been affected as the housing market slows down, so their stock has been hit quite hard. Now trading below book value. 4% dividend yield.
$15.910
Stock price when the opinion was issued
household goods
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TOP PICK
One of the leading furniture companies in the US. Exposed to the housing sector. Negative trading pattern. He is pretty sure the furniture industry in the US is going to have a positive period. The valuation is compelling. Deals they have a strong enough balance sheet to weather a prolonged housing weakness.
household goods
BUY
Very low priced sales ratio. Just cut the dividend from $0.16 a share to $0.04 a share, which could be a sign of a turn around. Very strong balance sheet. Forecasting earnings for 2008 above what analysts were expecting. There has been insider purchases. Tremendously undervalued. Can see an upside in furniture in the next housing cycle and there will be one.
household goods