Stock Opinions by Stephen Takacsy, B. Eng, MBA - Stockchase Experts
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Stephen Takacsy, B. Eng, MBA @

On Stockchase since : May 2013

Chief Investment Officer & Portfolio Mgr at Lester Asset Management

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T: 514.849.5566https://www.lesterasset.com/Home

Stephen Takacsy, B. Eng, MBA Latest Top Picks...

Stock Opinions by Stephen Takacsy, B. Eng, MBA - Stockchase Experts

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General Market Comment 

December 3, 2018

Market. The WTI oil price increased. We will see if this lasts more than a few weeks or days. The correction was long overdue. The volatility we saw was caused to a large part by automated trading and panic selling in the retail market. We have tax loss selling season coming, in addition to current market weakness. He does not like E&P companies but likes mid-streamers. You want to be the toll collector in the commodity business.
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Market. The WTI oil price increased. We will see if this lasts more than a few weeks or days. The correction was long overdue. The volatility we saw was caused to a large part by automated trading and panic selling in the retail market. We have tax loss selling season coming, in addition to current market weakness. He does not like E&P companies but likes mid-streamers. You want to be the toll collector in the commodity business.
Unknown
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$0.000
Owned Owned
_N/A

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DON'T BUY
Shopify Inc.(SHOP-T) 

December 3, 2018

It is too expensive for his style. He questions if the new business of advancing funds, if this money is not being used to pay fees to Shopify. You have to keep your eye on that. There is good growth but what are you paying for that growth. These kinds of companies can come off dramatically.
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It is too expensive for his style. He questions if the new business of advancing funds, if this money is not being used to pay fees to Shopify. You have to keep your eye on that. There is good growth but what are you paying for that growth. These kinds of companies can come off dramatically.
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$207.350
Owned Owned
No

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SELL
Input Capital Corp(INP-X) 

December 3, 2018

They do canola mainly. At these prices the stock is so cheap. He sold because he was not seeing enough capital being deployed in Canola streams.
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They do canola mainly. At these prices the stock is so cheap. He sold because he was not seeing enough capital being deployed in Canola streams.
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$0.840
Owned Owned
Unknown

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STRONG BUY
It is one of Canada's leading meal kit companies. Last quarter they came in ahead of top line revenue growth. They improved gross margins, better than the grocery industry. There is no wastage of food. This morning's subscriber numbers blew him out of the water. He is really, really happy. Someone might make an offer for them.
food processing
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It is one of Canada's leading meal kit companies. Last quarter they came in ahead of top line revenue growth. They improved gross margins, better than the grocery industry. There is no wastage of food. This morning's subscriber numbers blew him out of the water. He is really, really happy. Someone might make an offer for them.
food processing
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$2.980
Owned Owned
Yes

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BUY
It is a new position he put on this year. New orders took a lot longer to gather for this company. He thinks they have a winning bus that will meet the right-sizing of transit in the US. He thinks it will be much better next year. They are suffering from tax-loss selling.
Transportation
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It is a new position he put on this year. New orders took a lot longer to gather for this company. He thinks they have a winning bus that will meet the right-sizing of transit in the US. He thinks it will be much better next year. They are suffering from tax-loss selling.
Transportation
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$0.840
Owned Owned
Yes

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STRONG BUY
Baylin Technologies(BYL-T) 

December 3, 2018

His second biggest position. They made a few acquisitions that position them in all the sectors of wireless antennas. They will have huge potential over the next 20 years. Their sales are booming overseas as developing countries catch up. He expects double digit growth next year.
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His second biggest position. They made a few acquisitions that position them in all the sectors of wireless antennas. They will have huge potential over the next 20 years. Their sales are booming overseas as developing countries catch up. He expects double digit growth next year.
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$3.720
Owned Owned
Yes

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DON'T BUY
Altagas Ltd(ALA-T) 

December 3, 2018

It is a tough call at this stage. They made a pretty bad acquisition in California that is really taking them down. There are better opportunities out there. He prefers KEY-T.
oil/gas
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It is a tough call at this stage. They made a pretty bad acquisition in California that is really taking them down. There are better opportunities out there. He prefers KEY-T.
oil/gas
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$14.720
Owned Owned
Unknown

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WATCH
This was a real high flying stock for so many years. They came out with disappointing same store sales growth just as Sears was closing down and they were expected to gain additional market share. They are buying an online mattress company. It may move the needle – time will tell.
household goods
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This was a real high flying stock for so many years. They came out with disappointing same store sales growth just as Sears was closing down and they were expected to gain additional market share. They are buying an online mattress company. It may move the needle – time will tell.
household goods
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$23.310
Owned Owned
Unknown

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PAST TOP PICK

(A Top Pick Dec 11/17, Down 29%) China had a bit too much inventory on hand. There was a poor crop about two or three years ago. Many Ontario companies had to de-list from the LCBO and it takes time to get re-listed, but they now have a number of products back on the shelves. Their sales in the grocery channel in Ontario – they have the leading market share. He expects 2019 to very, very strong. They are diversifying geographically.

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(A Top Pick Dec 11/17, Down 29%) China had a bit too much inventory on hand. There was a poor crop about two or three years ago. Many Ontario companies had to de-list from the LCBO and it takes time to get re-listed, but they now have a number of products back on the shelves. Their sales in the grocery channel in Ontario – they have the leading market share. He expects 2019 to very, very strong. They are diversifying geographically.

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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$0.250
Owned Owned
Yes

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PAST TOP PICK
Badger Daylighting(BAD-T) 

December 3, 2018

(A Top Pick Dec 11/17, Up 15%) It is an infrastructure play with over 70% of their business in the US. There are many areas of the US where they don't know what hydrovac excavation is. It is much less of an energy services company than they were in the past.

oil/gas
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(A Top Pick Dec 11/17, Up 15%) It is an infrastructure play with over 70% of their business in the US. There are many areas of the US where they don't know what hydrovac excavation is. It is much less of an energy services company than they were in the past.

oil/gas
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$32.020
Owned Owned
Yes

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PAST TOP PICK
Park Lawn Corp(PLC-T) 

December 3, 2018

(A Top Pick Dec 11/17, Up 14%) They have some funeral homes as well as cemeteries. They have expanded into the US via acquisitions. It is the only pure play in this sector. There are huge tailwinds demographically for the next 25-30 years. They have good margins. They are one of the few consolidators in the industry. He expects many years from now a huge player will acquire them. This is a good entry point.
REAL ESTATE
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(A Top Pick Dec 11/17, Up 14%) They have some funeral homes as well as cemeteries. They have expanded into the US via acquisitions. It is the only pure play in this sector. There are huge tailwinds demographically for the next 25-30 years. They have good margins. They are one of the few consolidators in the industry. He expects many years from now a huge player will acquire them. This is a good entry point.
REAL ESTATE
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$23.130
Owned Owned
Yes

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HOLD
The dividend is safe. The question is getting in at the right price. This one is more commodity than CCL.B-T or WPK-T. Management has been doing a really good job of diversifying into other sectors of packaging. They are benefiting from the whole home delivery momentum. The question is what the company is worth going down the road. He thinks there is good upside if they keep executing. (Analysts’ price target is $23.00)
packaging/containers
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The dividend is safe. The question is getting in at the right price. This one is more commodity than CCL.B-T or WPK-T. Management has been doing a really good job of diversifying into other sectors of packaging. They are benefiting from the whole home delivery momentum. The question is what the company is worth going down the road. He thinks there is good upside if they keep executing. (Analysts’ price target is $23.00)
packaging/containers
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$17.030
Owned Owned
No

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STRONG BUY
Keyera Corp(KEY-T) 

December 3, 2018

He most recently added it. He likes energy infrastructure. They have some good assets. The stock got beaten up because of temporary factors. The dividend is perfectly safe.
oil/gas
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He most recently added it. He likes energy infrastructure. They have some good assets. The stock got beaten up because of temporary factors. The dividend is perfectly safe.
oil/gas
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$29.090
Owned Owned
Yes

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BUY on WEAKNESS
Empire Company (A)(EMP.A-T) 

December 3, 2018

He was very impressed by what they are doing when he met with them last week. They bought Farm Boy recently. They are looking carefully at their online strategy. They ran into problems with Safeway but have now turned around same store sales with it. The easy turnaround has been done and from here it will be a little more difficult. He might buy it on temporary weakness.
food stores
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He was very impressed by what they are doing when he met with them last week. They bought Farm Boy recently. They are looking carefully at their online strategy. They ran into problems with Safeway but have now turned around same store sales with it. The easy turnaround has been done and from here it will be a little more difficult. He might buy it on temporary weakness.
food stores
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$25.540
Owned Owned
Unknown

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VAGUE
Management has done a hack of a good job on the retail side in the face of companies like Wal-Mart and Dollarama. It does not trade at a crazy multiple. They made acquisitions that fit in. Their recent acquisition they paid a lot for. It is a different business. We may see the impact in the future.
specialty stores
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Management has done a hack of a good job on the retail side in the face of companies like Wal-Mart and Dollarama. It does not trade at a crazy multiple. They made acquisitions that fit in. Their recent acquisition they paid a lot for. It is a different business. We may see the impact in the future.
specialty stores
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Stephen Takacsy

Chief Inve, Lester Asset Managem...

Price Price
$150.030
Owned Owned
Unknown

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