Opinions
Stephen Takacsy, B. Eng, MBA
Logistec Corp
LGT.B-T
PAST TOP PICK
Mar 22, 2017
Stock price when the opinion was issued
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Has owned if for 15 years and made 8x his money. Would buy it now. They unload cargo from ships, and business is booming in North American ports. Their environmental division is growing fast, owning proprietary tech to repair water pipes. Company has been reporting record results. The PE has never been lower at 10x.
It is in the marine cargo handling business with over 60 ports in North America. It recently made a very big acquisition which gives it a very strong position in the Great Lakes area. Has had record results of $4 per share and trades at10X P/E. They have owned it for many years and it hasn't been this cheap in a long time. The other side of the business is in environmental services including soil/water remediation and water pipe repairs - they have a record backlog.
(A Top Pick March 22/16. Down 9%.) This has been one of his biggest winners over the last 10 years, going from $8 to $70. However, it has been treading water for the last 2 years or so. Last year was rough with marine cargo volumes being down. They’ve expanded some operations, so costs went up. Also, had a terrible fire in Georgia, which basically had them shut down for almost a year. Just came out with a very, very strong 4th quarter and announced some acquisitions and new contracts. In 2017 you are going to see this get back on the path of growing their top and bottom lines. This is still a Buy.