Opinions
Gordon Reid
Titan International
TWI-N
BUY
Jun 19, 2013
$17.300
Stock price when the opinion was issued
Consumer Products
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(A Top Pick April 18/12. Down 11.83%.) Manufactures steel rims, tires and wheel assemblies for off-road machinery including farm and recreational. Had a disappointing quarterly earnings report on the back of some labour disruptions. Have now signed a new 4-year collective agreement. Undervalued. Feels it has earnings power of $2.50-$3 in the next year or 2.
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Had a couple of problems including labour issues and an inventory build in some of their tire stock. Long-term this company has a great opportunity. They do tires and wheel assemblies for off-road machinery. Farm machinery is a big growth area. Well managed and inexpensive at about 10X earnings.