Opinions
Chris Rankin, MBA, CFA
Sun Gro Horticultural Inc
GRO-T(dead)
SELL
Jun 08, 2007
Get peat moss out of Canada and ship to the US.
Double whammy is
1. Foreign exchange exposure.
2. Peat moss is used for landscaping and US housing is going down.
Thinks is should be $4 -$4.5 per unit.
$7.550
Stock price when the opinion was issued
agriculture
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(A Top Pick July 28/05. Down 17%.) A quasi-monopoly. It takes the bogs and uses the peat moss to create mixes for home growers. It had about 45% gross margins and pricing power. Because it sells mostly in the US, the stronger Canadian dollar as well as transportation costs hurt them. Sold his holdings.
agriculture