TFI International Inc

TFII-T

TSE:TFII

65.09
1.07 (1.62%)
TFI International Inc. is a Canadian transport and logistics company based in Montreal, Quebec. It operates across Canada through 4 business segments, and in the United States.
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Analysis and Opinions about TFII-T

Signal
Opinion
Expert
TOP PICK
TOP PICK
September 26, 2012

Went from having about 40% of the revenues coming from specialty services, packaging and couriering to being over 60%. They are higher margin businesses and deserve a higher multiple but that multiple has not come through yet. Good execution by management over the last few quarters. Increased margins and paying down debt. $19-$20 in 12 months easily. 3% dividend.

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Went from having about 40% of the revenues coming from specialty services, packaging and couriering to being over 60%. They are higher margin businesses and deserve a higher multiple but that multiple has not come through yet. Good execution by management over the last few quarters. Increased margins and paying down debt. $19-$20 in 12 months easily. 3% dividend.

BUY WEAKNESS
BUY WEAKNESS
March 13, 2012
Great growth. 20% this year, 12% next year. They have pricing power in their business. Have done a good job of acquiring companies recently. It is getting pricey right now. Is outside of its normal trading range. He would buy on a pullback.
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Great growth. 20% this year, 12% next year. They have pricing power in their business. Have done a good job of acquiring companies recently. It is getting pricey right now. Is outside of its normal trading range. He would buy on a pullback.
COMMENT
COMMENT
February 21, 2012
(Market Call Minute.) Good recovery. Management has done a great job in making strong acquisitions. No longer trucking but is now a multifaceted company.
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(Market Call Minute.) Good recovery. Management has done a great job in making strong acquisitions. No longer trucking but is now a multifaceted company.
BUY
BUY
November 30, 2011
In a really good space. Their packaging and courier business has been doing real well. Have also been tethered to the energy sector with their special services segment. Yield and balance sheet are pretty safe. Acquiring a rig business, which will complement their existing operations. You could buy now or one weakness.
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In a really good space. Their packaging and courier business has been doing real well. Have also been tethered to the energy sector with their special services segment. Yield and balance sheet are pretty safe. Acquiring a rig business, which will complement their existing operations. You could buy now or one weakness.
PAST TOP PICK
PAST TOP PICK
June 17, 2011
(A Top Pick July 7/10. Up 65.57%.) Great trucking company. Made some acquisitions. Some hidden assets in their garbage division. Still likes.
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(A Top Pick July 7/10. Up 65.57%.) Great trucking company. Made some acquisitions. Some hidden assets in their garbage division. Still likes.
TOP PICK
TOP PICK
October 8, 2010
Trucking volumes are rising.
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Trucking volumes are rising.
TOP PICK
TOP PICK
July 7, 2010
Largest trucking firm in Canada and includes less-than-truckload and specialized truckload service. Also has a waste management division, which market is not ascribing any value to. Starting to see volumes pick up in trucking. Paying down debt. 4% dividend.
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Largest trucking firm in Canada and includes less-than-truckload and specialized truckload service. Also has a waste management division, which market is not ascribing any value to. Starting to see volumes pick up in trucking. Paying down debt. 4% dividend.
DON'T BUY
DON'T BUY
May 6, 2008
One of Canada's largest trucking firms. Trucking is very cyclical and will move with the economy. Thinks they are intending to convert back to a corporate structure and distributions will be reduced. A little early to be looking at this one.
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One of Canada's largest trucking firms. Trucking is very cyclical and will move with the economy. Thinks they are intending to convert back to a corporate structure and distributions will be reduced. A little early to be looking at this one.
DON'T BUY
DON'T BUY
March 26, 2008
The balance sheet is slipping which probably means they’re paying too much out. They should cut their pay out, to be positioned as a regular corporation. It’s around its book value. It’s fair market value continues to plummet.
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The balance sheet is slipping which probably means they’re paying too much out. They should cut their pay out, to be positioned as a regular corporation. It’s around its book value. It’s fair market value continues to plummet.
BUY
BUY
March 3, 2008
Has been a very well run company, but a very poor performing stock. Market is concerned about trucking companies during a recession or economic slowdown. Have announced they are going to go through a strategic review and wouldn't be surprised if the company was broken up with parts being sold off. Very inexpensive. The company is in no jeopardy. (ED. 23% yield.)
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Has been a very well run company, but a very poor performing stock. Market is concerned about trucking companies during a recession or economic slowdown. Have announced they are going to go through a strategic review and wouldn't be surprised if the company was broken up with parts being sold off. Very inexpensive. The company is in no jeopardy. (ED. 23% yield.)
WAIT
WAIT
February 26, 2008
(Market Call Minute.) There will be an opportunity over the next 3 to 5 months.
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(Market Call Minute.) There will be an opportunity over the next 3 to 5 months.
BUY
BUY
January 22, 2008
Largest trucking firm in Canada. Have various different divisions. There have been concerns about their debt level heading into a slowdown. Has also been hurt by the strong Cdn$. Plan to sell some real estate and a waste management division in Quebec to help their debt. At these levels it's a good buying opportunity. 19.4% yield makes him a little nervous.
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Largest trucking firm in Canada. Have various different divisions. There have been concerns about their debt level heading into a slowdown. Has also been hurt by the strong Cdn$. Plan to sell some real estate and a waste management division in Quebec to help their debt. At these levels it's a good buying opportunity. 19.4% yield makes him a little nervous.
DON'T BUY
DON'T BUY
November 8, 2007
Largest trucking company in Canada. Recent Q3 results reflected the higher Cdn$ and the slowdown in manufacturing. Also have concerns on their debt levels.
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Largest trucking company in Canada. Recent Q3 results reflected the higher Cdn$ and the slowdown in manufacturing. Also have concerns on their debt levels.
HOLD
HOLD
October 19, 2007
Cheap valuation, tough industry fundamentals.
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Cheap valuation, tough industry fundamentals.
VAGUE
VAGUE
September 21, 2007
Wont be affected really by U.S dollar value. May be affected by slowdown in U.S economy.
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Wont be affected really by U.S dollar value. May be affected by slowdown in U.S economy.
DON'T BUY
DON'T BUY
September 5, 2007
There is some question about their balance sheet. When they were acquiring other companies, they were able to issue units at higher prices to pay for them. With the cost of capital being higher, they only have a limited number of options.
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There is some question about their balance sheet. When they were acquiring other companies, they were able to issue units at higher prices to pay for them. With the cost of capital being higher, they only have a limited number of options.
PAST TOP PICK
PAST TOP PICK
July 31, 2007
(A Top Pick Aug 25/06. Down 12%.) Still likes the name. Struggling because of the income trust stigma that it is going to have to deal with. While diversified product line. Good growth profile.
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(A Top Pick Aug 25/06. Down 12%.) Still likes the name. Struggling because of the income trust stigma that it is going to have to deal with. While diversified product line. Good growth profile.
COMMENT
COMMENT
July 4, 2007
Largest trucking firm in Canada. Seeing weakness in central Canada with a high $ affecting manufacturing. Have some interesting assets that they could sell. Debt level is a bit higher than what he likes of management is creative and is looking for growth in the next cycle.
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Largest trucking firm in Canada. Seeing weakness in central Canada with a high $ affecting manufacturing. Have some interesting assets that they could sell. Debt level is a bit higher than what he likes of management is creative and is looking for growth in the next cycle.
DON'T BUY
DON'T BUY
May 29, 2007
Trucking industry is on a bit of an uptrend. Better/cheaper companies are available such as ATS Andlauer (ATS.UN-T), Trimac (TMA.UN-T), Mullen Trucking (MTL.UN-T) or Contrans (CSS.UN-T). This one has been very acquisitive. Multiple is too high for him.
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Trucking industry is on a bit of an uptrend. Better/cheaper companies are available such as ATS Andlauer (ATS.UN-T), Trimac (TMA.UN-T), Mullen Trucking (MTL.UN-T) or Contrans (CSS.UN-T). This one has been very acquisitive. Multiple is too high for him.
PAST TOP PICK
PAST TOP PICK
May 29, 2007
(A Top Pick Aug 25/06. Down 8%.) Largest trucking operation in Canada. Very strong financial control. Very efficient operation.
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(A Top Pick Aug 25/06. Down 8%.) Largest trucking operation in Canada. Very strong financial control. Very efficient operation.
BUY
BUY
April 9, 2007
Trucking business. Has grown very rapidly through acquisition. Very strong Ontario-Quebec base and moving into western Canada, where prospects look good.. Strong management. Economically sensitive. Good for a long-term hold.
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Trucking business. Has grown very rapidly through acquisition. Very strong Ontario-Quebec base and moving into western Canada, where prospects look good.. Strong management. Economically sensitive. Good for a long-term hold.
PAST TOP PICK
PAST TOP PICK
March 30, 2007
(A Top Pick Aug 25/06. Down 12.6%.) Was hit by the new income trust rules. Likes it as a trust or a corporation. Management has significant ownership. While diversified.
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(A Top Pick Aug 25/06. Down 12.6%.) Was hit by the new income trust rules. Likes it as a trust or a corporation. Management has significant ownership. While diversified.
BUY
BUY
March 20, 2007
The largest trucking firm in Canada. Good management. Payout ratio of about 80%. There could be some softness in central Canada, but longer-term, they will continue to grow and consolidate.
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The largest trucking firm in Canada. Good management. Payout ratio of about 80%. There could be some softness in central Canada, but longer-term, they will continue to grow and consolidate.
BUY
BUY
February 9, 2007
Trading at a discount to its comparables. Expect there is some money to be made with this company.
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Trading at a discount to its comparables. Expect there is some money to be made with this company.
BUY
BUY
February 8, 2007
Expectations of a slowing economy in Ontario and Quebec have had an effect on the price. Good management. Expanding into the western provinces.
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Expectations of a slowing economy in Ontario and Quebec have had an effect on the price. Good management. Expanding into the western provinces.
PAST TOP PICK
PAST TOP PICK
January 25, 2007
(A Top Pick Aug 25/06. Down 12.4%.) Likes the way the business is run. Retaining cash flow in order to grow through acquisition. Feels distributions are solid.
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(A Top Pick Aug 25/06. Down 12.4%.) Likes the way the business is run. Retaining cash flow in order to grow through acquisition. Feels distributions are solid.
DON'T BUY
DON'T BUY
January 22, 2007
Trucking. More cyclical than he likes. Has performed well as a trust. They continue to need growth by acquisition so new government rules may slow them down. Concerned with the economy affecting this company.
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Trucking. More cyclical than he likes. Has performed well as a trust. They continue to need growth by acquisition so new government rules may slow them down. Concerned with the economy affecting this company.
PAST TOP PICK
PAST TOP PICK
November 27, 2006
(A Top Pick Aug 25/06. Down 6.1%.) Like it as a company, not an income trust. Economy is slowing and trucking tends to slow as well. They where an acquisitive company but were using income units as currency. Feels they will be able to work their way through this.
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(A Top Pick Aug 25/06. Down 6.1%.) Like it as a company, not an income trust. Economy is slowing and trucking tends to slow as well. They where an acquisitive company but were using income units as currency. Feels they will be able to work their way through this.
TOP PICK
TOP PICK
August 25, 2006
Yielding about 9.5%. Very acquisitive and probably the largest trucking company out there. Management owns a big position in it. Has come under pressure recently, along with transportation, The most dominant trucking company in Canada. About 80% payout ratio.
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Yielding about 9.5%. Very acquisitive and probably the largest trucking company out there. Management owns a big position in it. Has come under pressure recently, along with transportation, The most dominant trucking company in Canada. About 80% payout ratio.
SELL
SELL
August 4, 2006
He was not willing to accept the cyclicality in his portfolio. However, it has been one of the better performing trucking income trusts. In the most recent quarter, they are showing some cracks in their armour. Growth rate is slowing down.
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He was not willing to accept the cyclicality in his portfolio. However, it has been one of the better performing trucking income trusts. In the most recent quarter, they are showing some cracks in their armour. Growth rate is slowing down.
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