MPG - Metro Glass

[Balance]

Stats NZ headline is Building Consents flat in January

In acrual numbers up nearly 10% on Jan last year

All good for Metro ...most undervalued stock on the NZX50?

Don't try and catch a falling knife.

Third downgrade yet?

[JeremyALD]

yep. a ‘bad result’ has already been priced in by mr market eh W69.

assuming we are now looking down the barrel of ‘anything better than bad’, then I agree - it looks oversold

could be a reasonable chance of a 20-30% climb from these levels come May

.....bargain?

I thought that at $1.30, $1.10 and 90 cents so who knows it's a dangerous ride. MPG has done anything but aspire any confidence.

[Beagle]

Don't try and catch a falling knife.

Third downgrade yet?

Yes looking increasingly likely. Interestingly since the infamous major downgrade of August 2017 where it plunged 30 cents its never recovered above the 100 day MA and has stayed in a consistent overall downtrend. Basic TA would suggest stay well away for now. Vast amounts of trouble in the building industry, why would this one be exempt ?

[Brain]

The chairman Peter Griffiths brought 50,000 shares late last month. Hopefully this is a good sign that the situation hasn’t deteriorated further.

[Balance]

The chairman Peter Griffiths brought 50,000 shares late last month. Hopefully this is a good sign that the situation hasn’t deteriorated further.

Same Peter Griffiths of NZOG fame?

[Balance]

The chairman Peter Griffiths brought 50,000 shares late last month. Hopefully this is a good sign that the situation hasn’t deteriorated further.

Wouldn't read anything into it myself.

Recall director/management purchasing shares at well above $1.00?

https://stocknessmonster.com/announc...pg.nzx-296599/

Dean Brown, CFO - $1.58

https://stocknessmonster.com/announc...pg.nzx-302074/

Peter Griffiths - $1.41

https://stocknessmonster.com/announc...pg.nzx-306273/

Peter Griffiths again - $1.10

[bullfrog]

What I look for in this sector is consistency. In an environment where lowest tender wins, it’s tightly run companies that will make a modest profit, regardless of whether it’s a boom or bust. If you think metro has a good track record, strategy, and internal processes to control costs/review bids, then it’s a buy imo. It’s just as hard to make money in a boom as a bust. Saw today another construction company going to the wall.

[Beagle]

What I look for in this sector is consistency. In an environment where lowest tender wins, it’s tightly run companies that will make a modest profit, regardless of whether it’s a boom or bust. If you think metro has a good track record, strategy, and internal processes to control costs/review bids, then it’s a buy imo. It’s just as hard to make money in a boom as a bust. Saw today another construction company going to the wall.

Seeing as they've engaged external consultants to review those matters that doesn't give a lot of confidence does it !

[Balance]

Seeing as they've engaged external consultants to review those matters that doesn't give a lot of confidence does it !

May 2017 : Warren Buffett will go to great lengths to stop Berkshire Hathaway using consultants. “If the board hires a compensation consultant after I’m gone, I will come back,” he promised its annual shareholder meeting on Saturday.

[bullfrog]

Seeing as they've engaged external consultants to review those matters that doesn't give a lot of confidence does it !

Agreed, I hope it’s just a bit of confirmation bias that the exec need. After all it’s what exec get paid the big bucks for, if they can’t do that, what are they doing? Yes.... it’s to reassure themselves that it’s all good under the hood. Yes, that’s it.....