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| BUY | 99.640 | Gordon Reid | Companies operating around the world will have some headwinds. Slowdown in Europe is definitely a headwind. But there are benefits to being a global player and they are taking advantage of that. | 2012-01-11 | |
| PAST TOP PICK | 95.520 | David Burrows | (A Top Pick Jan 25/11. Up 3.23%.) Sold his holdings last spring when the market started to roll over. Still not time to be focused on the machinery stocks. | 2012-01-05 | |
| DON'T BUY | 96.290 | Brian Acker, CA | Has a model price of $76.87 a negative 20%. He would be a buyer at $65-$67. | 2011-12-02 | |
| PAST TOP PICK | 90.540 | David Burrows | (A Top Pick Dec 13/10. Up 1%.) Away from the equipment stocks now. | 2011-11-29 | |
| PAST TOP PICK | 87.760 | Stan Wong | (A Top Pick Nov 18/10. Up 7.55%.) Largest manufacturer of construction equipment globally. Pretty cheap at 10X forward PE. | 2011-11-24 | |
| BUY | 83.560 | Stan Wong | Likes it for its brand and size and where they are in the world. Lots of business from emerging markets. Near term it is getting hit by Europe and China questions. | 2011-10-19 | |
| Comment | 84.090 | Jeff Parent B. Eng. FCSI | Chart shows a long upward run from early 2009 to early 2011. If you own, Sell if it goes below $79. Its resistance point is going to be around $92. Today's action was good but volume wasn't great. | 2011-10-14 | |
| HOLD | 85.700 | Ron Meisels | It didn’t break down too far below its trend line. There are negative signals right now, though. Put in a stop loss so it doesn’t go any further down. | 2011-09-06 | |
| BUY | 91.000 | Gordon Reid | As your investment appreciates you have to make sure it does not overweight everything else. A great company. One of the nice things is that 2/3rds if revenue comes from outside of US. Benefit from emerging markets and China boom. They say they will grow earnings 15% this cycle. | 2011-08-31 | |
| DON'T BUY | 85.160 | Norman Levine | A cyclical stock tied into resources. Will trade with resources and resource prices have come off quite a bit and this has followed. He doesn't expect resource prices to turn around. | 2011-08-26 | |
| BUY | 91.370 | Don Lato | Got hit hard in the last few weeks with the market sell off. Looking at 15%-20% earnings growth. Now trading at less than 10X next year’s earnings. Doesn't feel the global economy is going to come to a screeching hope so there is plenty of room for them in both the building and mining sides. | 2011-08-15 | |
| Comment | 90.990 | Bill Carrigan | A number of Dow industrial stocks, including this one, Had an intraday reversal. (Early weakness followed by strength during the day.) | 2011-08-05 | |
| TOP PICK | 99.640 | Gordon Reid | (A Top Pick Aug 18/10. Up 46.78%.) In the sweet spot in terms of emerging markets. A lot of activity in the commodities space. Looking to grow earnings 15%-20% annually. Very cheap. | 2011-07-28 | |
| Comment | 102.190 | Peter Brieger | Likes it long term but would like to see it come down to the $70s or $80s. | 2011-06-02 | |
| DON'T BUY | 104.330 | Norman Levine | Weaker US$ has helped them a lot. A commodity related cyclical stock. Has peaked for now and has some downside here. Commodities are in a seasonally weak period so this stock looks horrible here. | 2011-05-20 | |
| DON'T BUY | 111.000 | Norman Levine | Cyclical stock, not a growth stock that has been riding the commodity boom. As long as commodities are doing well and mining companies are going to need more equipment, the stock will continue to do well. Expensive here. He would rather own Kubota (KUB-N) of Japan, which will benefit more from reconstruction in Japan. | 2011-04-06 | |
| WAIT | 108.370 | Paul Harris, CFA | When you look at their numbers and guidance, they think they will grow until 2015 at 20% per year. Al lot of growth in the minding side, plus they made an acquisition. They are seeing a lot of growth in all their areas. Are expanding internationally. It’s hard to buy here, but if they meet their forecast, then they will go higher. Buy it on weakness/pull back. | 2011-03-24 | |
| TOP PICK | 94.390 | David Burrows | A great global brand that is a great global play in industries where they have money to spend. It’s also a play on new tax incentives in the US. They are sold out of product. There are drivers that could go on for some time. | 2011-01-25 | |
| BUY | 94.140 | Stan Wong | In the right space. Liked their acquisition of Bucyrus, which strengthened their mining equipment area. Fully involved of the urbanization and infrastructure of India/China. | 2011-01-13 | |
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| BUY | 93.120 | Gordon Reid | Acquired Bucyrus, which is a good fit. Still in the early stages. Dealers still replenishing inventory, which is an early stage sign. Management think they can grow earnings 15%-20% a year. Reasonable multiple of around 14-15. | 2010-12-15 | |
| TOP PICK | 91.630 | David Burrows | Dominant player in mining, oil and gas. Dominant player in international markets. Very strong growth and price performance. | 2010-12-13 | |
| BUY | 88.620 | Terry Shaunessy | An incredible stock to own. Huge beneficiary if you are playing growth emerging markets and infrastructure. Will benefit from growth over the next 10, 20, 30 years. | 2010-12-02 | |
| TOP PICK | 83.110 | Stan Wong | Great company. Expected to benefit from continued global urbanization and infrastructure. Likes their acquisition of Bucyrus (BUCY-Q) that gives them mining equipment. Trades at about 14X forward PE. | 2010-11-18 | |
| BUY | 82.460 | Gordon Reid | Caterpillar (CAT-N) or Deere (DE-N)? Caterpillar has about 70% foreign exposure and Deere has about 40%-45%. Deere relies on farmers to be able to afford equipment. Deere is good and trades at a good multiple, a couple of points higher than Caterpillar. (Prefers Caterpillar.) | 2010-11-10 | |
| SELL | 83.120 | Brian Acker, CA | Very. Very expensive. Model price $56.06. It certainly has momentum here. | 2010-11-08 | |
| BUY | 79.670 | David Burrows | Only about 30% of the revenue is in North America and the rest is overseas. Sales are very strong. Make a lot of their money in replacement parts. Could see it reaching $100. | 2010-09-28 | |
| TOP PICK | 69.750 | Gordon Reid | Likes the growth in emerging markets. This is in a very early cycle. Still replenishing dealers inventory. Management would like to grow share earnings at 15%-20% per year through this cycle. | 2010-08-18 | |
| WAIT | 72.070 | Jim Huang | Expect it will outperform on a 12-24 month outlook. One of the biggest construction manufacturers globally. Leveraged to growth in emerging markets. Cost structure somewhat out of control because of rapid expansion phase and then hit by the downturn. Working out of this. | 2010-08-09 | |
| BUY | 66.700 | Gordon Reid | The giant earthmoving company of the world. At this stage in world development, it is going full bore. Will likely improve over the next 1-3 years. Still restocking their dealers | 2010-07-14 | |
| BUY | 60.070 | Mark Grammer | Opportunities in infrastructure are still very good. With government spending towards infrastructure you should see continuing demand for infrastructure products. This company is well positioned for this. | 2010-06-30 | |
| BUY on WEAKNESS | 63.370 | David Driscoll | Will be very cyclical, so take your time and look for a good entry point. | 2010-06-24 | |
| BUY | 59.270 | John Zechner | Will last another 10 years. Buy and put away and own. Make sure there are no problems developing with management. A lot of good years ahead of it. | 2010-06-01 | |
| BUY | 68.150 | Gordon Reid | Very early in the cycle so this is a great opportunity to Buy. As the stimulus package starts to take hold, good things have started happening here. Recently raised their guidance to $3.25, well above what the Street was looking for. | 2010-05-12 | |
| BUY | 67.750 | Gordon Reid | This is a cyclical and they are very early in their cycle. Will grow with the economic cycle. They are still replenishing dealer inventories. | 2010-04-21 | |
| BUY on WEAKNESS | 63.160 | Christine Poole | Likes this company but thinks the valuation is a bit stretched. It is on her radar screen on a pullback. | 2010-03-30 | |
| BUY | 58.780 | Gordon Reid | Dealer inventories are still quite low so this has to be built up. Stimulus program will create a lot of work in 2010-2011. China is also a big part of the business. | 2010-03-10 | |
| BUY | 53.150 | Don Lato | Great company and well diversified. A lot of penetration into the Asian market. Dominant supplier of heavy machinery in China and there is something like 250 subway routes that are going to be built over the next 5 years. | 2010-02-10 | |
| DON'T BUY | 60.120 | Paul Harris, CFA | (Market Call Minute.) Trading at 23X earnings so he would not be a buyer. | 2010-01-18 | |
| PAST TOP PICK | 62.330 | Gordon Reid | (A Top Pick Jan 14/09. Up 65.3%.) Numbers are just starting to turn around. Dealer inventories are still low. Global expansion and the weak US$ play will continue. | 2010-01-13 | |
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| Comment | 56.690 | David Baskin | Has benefited from the large amount of infrastructure spending in the US. Strong company with a global franchise. A weak US$ will help them tremendously. | 2009-10-27 | |
| BUY | 57.850 | David Burrows | Inventories are about 60% lower than last year, so you could see some re-stocking by the dealers. This is a company that is going to see earnings revisions higher. | 2009-10-19 | |
| DON'T BUY | 51.700 | Paul Gardner, CFA | Very cyclical. Great company. A lot of global infrastructure projects will benefit them but is already priced in. With the 50% run-up on the market he would want a better price, possibly low $40's. 3.25% yield. | 2009-10-06 | |
| Comment | 52.460 | Alexander Lane, B Comm, C | A lot of exposure to residential construction. Had some issues because of their finance arm but they managed to get through it okay but the ability of their customers to buy have had difficulty getting financing. Would prefer the dealership companies such as Toromont (TIH-T) or Finning (FTT-T). If you have a 5 or 10-year view it could be a good entry point. | 2009-09-21 | |
| BUY | 48.410 | Gordon Reid | Had the worst year in 50 and is a play on the global expansion. Thinks there is a lot more room for this company to grow in this expansion. | 2009-09-09 | |
| DON'T BUY | 45.170 | Ara Nalbandian | Not a fan of Caterpillar (CAT-N) or Deere (DE-N) because of balance sheet leverages but are also tied to global construction demand, a cyclical recovery. Both of gotten ahead of themselves recently. | 2009-08-19 | |
| HOLD | 47.890 | Hap (Robert) Sneddon FCSI | Had higher lows, which is positive. $47 seems to be a resistance point. Moving averages have righted themselves with the 50-day being above the 200-day. Could come back and test the $40 level. | 2009-08-04 | |
| SELL | 43.410 | Stan Wong | Over the balance of 12 months, earnings should be pretty strong. Earnings revisions have been moving up. Some of the estimates have been lowered for the next quarter. Probably not a bad move to Sell and move onto something else in the industrial space such as 3M (MMM-N). | 2009-07-30 | |
| HOLD | 37.620 | Don Lato | This is a play on a recovery and we are starting to see some signs of that. Global operator with a very large presence in China, which will probably lead the global recovery. | 2009-06-10 | |
| DON'T BUY | 36.080 | Brett Hryb | Great company but he is concerned about the stock and its dividend. There is also concern about the cash flow. Pension is under funded. A lot of the growth is tied to international and because it is a global recession that has been a decline for their equipment. | 2009-05-13 | |
| DON'T BUY | 38.430 | Mike Lyons CA, CFA | Good company. Has more debt than he is comfortable with, especially for this kind of company. The economy is probably going to have some kind of rebound but if it's tepid or doesn't happen, large ticket items volumes may remain at levels that approximate zero. Too expensive. | 2009-05-11 | |
| Comment | 39.640 | David Driscoll | (Market Call Minute.) If you own, he would probably buy more but he prefers Toromont (TIH-T) as a longer-term play. | 2009-05-08 | |
| WAIT | 32.290 | Andrew Guy, CFA | (Market Call Minute) Excellent company and could come back in the long term. Will benefit as we come out of current economic cycle. | 2009-04-17 | |
| DON'T BUY | 32.290 | Gerald Allaye-Chan | Tough market right now. 30-60% decline in demand expected. Lots of used equipment out there and price has come down. Avoid buying or hold if 5 years or more horizon. | 2009-04-17 | |
| BUY | 31.130 | Don Lato | Will benefit from the infrastructure plan. Nothing immediate is going to happen. 5% yield. Trading at only 11X earnings. | 2009-02-11 | |
| Comment | 31.850 | Paul Harris, CFA | Their global business is now falling apart and the domestic business is not doing well. Did well in the resource boom and construction boom in Asia. We are in a much worse recession than people think. In the long run, the stimulus packages will help companies like this but it may move sideways for a while. | 2009-01-29 | |
| TOP PICK | 39.350 | Gordon Reid | Beneficiary of global infrastructure spending initiatives. Trades at a little less than 10X earnings. Yield of about 4%. | 2009-01-14 | |
| Comment | 42.080 | David Driscoll | This is a cyclical blue chip. When the cycle is good and the economy is strong and its demands will rise along with the stock price and earnings. It will have staying power in this environment. | 2008-12-12 | |
| TOP PICK | 42.380 | Alan Kral , CFA, CIC | Premier construction company in the world. Will be stimulated as it generates a lot of jobs. It is well positioned. There is a risk if there is a delay in the introduction of the infrastructure program. | 2008-12-09 | |
| BUY | 35.700 | Ross Healy | Longer-term, if there is going to be a good/healthy recovery in the US, there has to be infrastructure spending. Companies like this will be the beneficiaries. Very attractive, but it could drop further in a bearish market. In the meantime, you get 4.6% yield. As long as you don't look at it every month, you might be quite happy. | 2008-11-17 | |
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| SELL | 36.870 | Norman Levine | (Market Call Minute.) Very commodity oriented. | 2008-11-11 | |
| TOP PICK | 34.950 | Alan Kral , CFA, CIC | (His 3 Top Picks tonight are a package.) Heavy equipment provider. Whoever gets elected, there will be another stimulus package coming out of Congress in the very short-term and into infrastructure. | 2008-10-28 | |
| DON'T BUY | 40.900 | Duncan Stewart | Two trends. Infrastructure and mining. No one is building real estate right now and with current metal prices, they are not being used in mines either. Wait for some further signs of an economic recovery. | 2008-10-20 | |
| BUY | 69.080 | David Baskin | End of agriculture mania ended when agriculture specialty mutual funds came out. Stock peaked about 2 or 3 months ago. They will make a lot of money and sell a lot of equipment. Acres under cultivation in the US continue to be at record levels. Inventories going into this crop year are at post second world war lows. Selloff of this stock has been overdone. | 2008-09-02 | |
| BUY | 70.730 | Ross Healy | His fair market value price is $134 so it has about 100% upside. It is also trading close to very solid technical support. Has a nice balance sheet. Would Buy this one for a trade. Could see it get up to $85-$87 on a bounce. | 2008-08-29 | |
| BUY | 69.520 | John O'Connell, CFA | (Market Call Minute.) You could own both Caterpillar (CAT-N), the manufacturer and Finning (FTT-T), the distributor. | 2008-07-31 | |
| TOP PICK | 80.500 | Alan Kral , CFA, CIC | Growth will continue in demands for their kind of products globally for agriculture, mining and infrastructure. Looking for US infrastructure boom with a new president. | 2008-06-12 | |
| Comment | 81.690 | David Driscoll | If you are a long-term investor, it is probably a decent entry point. Infrastructure is a theme that will continue over the next decade or so. | 2008-04-23 | |
| DON'T BUY | 77.370 | Brian Acker, CA | Model price negative 20% differential. Not recommend buying at this point. Overpriced. | 2007-09-20 | |
| DON'T BUY | 73.400 | Brian Acker, CA | Just came out with blow-out earnings. Thinks it's becoming a large cap market. Not mis-priced. Too expensive to buy. | 2007-05-02 | |
| Comment | 73.230 | Don Vialoux | Had a great move because of strong earnings, with came out because of the Canadian companies Finning (FTT-T) and Torormont (TIH-T). It's clearly in upward trend and could go higher, but would prefer the Canadian companies, which haven’t moved as far. | 2007-04-25 | |
| HOLD | 64.230 | Ross Healy | His FMV is $100, but not particularly cheap on a Price to Book historical basis. | 2007-03-07 | |
| Comment | 68.210 | Larry Berman CFA, CMT, CTA | Had good support around $60 and it then broke through an intermediate high of about $65. It could have resistance near $70, but he feels it has good upside potential. | 2007-02-21 | |
| DON'T BUY | 64.990 | Brian Acker, CA | This has always been overvalued to him. His model price is $54, which is a negative 16% differential. | 2007-02-01 | |
| DON'T BUY | 59.630 | John O'Connell, CFA | High input costs because of steel, etc. Good company, but it has been struggling. | 2007-01-25 | |
| Comment | 59.560 | Jim O'Shaughnessy | A large-cap value name. Use the dividend yield as the determination as to whether you want to buy it or not. | 2007-01-23 | |
| DON'T BUY | 61.160 | Steve MacMillan | Has recently had some issues. Decline in share price is because of slower truck sales as well as rising commodity prices. With manufacturing costs rising, margins will get squeezed. He is generally underweight the whole industrial space in the US. | 2007-01-03 | |
| BUY | 63.070 | Brad Willock | Very cheap at this price. A loot of its demand comes from outside North America. Concerns on US housing and economy has pushed it lower. Global demand will move it higher. | 2006-12-11 | |
| DON'T BUY | 60.710 | Norman Levine | Had a great run and was going up with the resource boom. There has been slowdown in construction and weakness in the resource sector. | 2006-10-31 | |
| Comment | 62.350 | Jean-Francois Tardif | Lowered their guidance, so the stock dropped 15%. US housing is slowing which impacts them, but they have a lot of positive global projects. He prefers Canadian stocks in this sector because of the strong bullish aspects. They are also cheaper and growing faster. | 2006-10-26 | |
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| BUY | 60.420 | David Baskin | There's an overreaction to the drop-off in the US housing industry. They are in a lot of different sectors and should do well by it. | 2006-10-23 | |
| DON'T BUY | 80.970 | Brian Acker, CA | This one has always been above his model price. His current model price is $62 which is a -23% differential. | 2006-05-10 | |
| VAGUE | 73.220 | Lawrence Roulston | Depends on the drill results. Just finished a 3 hole drill test with good results. A 9 hole drill program is underway. If the results are still good, it has a long way to go, but if the results are not so good it could go the other way. A roll of the dice speculative, with the upside being very much ahead of where it is right now. | 2006-03-07 | |
| WAIT | 50.290 | Norman Levine | Fell out of bed this week with much weaker than expected earnings. It wasn't really the sales side that was hurting, it was their cost side, materials, energy, etc. Would wait for signs that it is going to turn around. | 2005-10-25 | |
| BUY | 96.530 | David Burrows | Benefits from spending on infrastructure. Mining industry is buying a lot of equipment. On the downside, their raw material costs are going up. Feels they will be able to pass increases on. | 2005-03-14 | |
| BUY | 88.740 | Brad Willock | Likes both Cat and John Deere, but Cat has more global exposure. Demand from the mining sector will grow. Higher input costs because of the increase in steel prices. More room to run. | 2004-11-10 | |
| BUY | 72.480 | David Baskin | Long-term prospects are good. Long-term extraction is in an uptrend around the world and this company will play a big part in that. Prefers to play this company through Finning. | 2004-08-17 | |
| WAIT | 71.680 | David Burrows | Machinery companies are very interesting. Their concerns over the earnings coming out this quarter as well as some of the capital spending trends. Would wait for a little bit of movement before he bought this. | 2004-08-03 | |
| TOP PICK | 81.960 | Laszlo Birinyi | Should come back with the economy. | 2004-04-23 | |
| PAST TOP PICK | 76.700 | David Burrows | (A top pick Dec 3/03. Up 2.3%.) Equipment companies in Canada and the US had a bit of a pullback but feels the strength is coming back. Strong overseas sales and will do well with a weaker US$. | 2004-02-24 | |
| WEAK BUY | 76.520 | Brad Willock | Interested in the stock. Business is good. Like the stock. up 83% over last year. | 2004-02-10 | |
| DON'T BUY | 84.140 | Paul O'Neil | Things are getting a lot better. Has had a great run, but feels that 85% of the gains has already been made. | 2004-01-16 | |
| TOP PICK | 81.020 | David Burrows | Has battled a high US$ for 10 years and as a result, became very efficient. We are in a capital spending environment. | 2003-12-16 | |
| DON'T BUY | 77.940 | David Driscoll | Their valuation is between $36 and $46 a share. It'll probably go sideways for a while. | 2003-12-11 | |
| TOP PICK | 75.480 | David Burrows | 55% of their sales are overseas. Will grow its earnings by 30% this year and next. | 2003-12-03 | |
| BUY | 74.810 | Mark Jackson, CFA | A good, well-run company. Well-positioned for a recovery in the economy, drilling activity and any areas where their machinery is sold. Would prefer to play it through a Canadian company such as Tormont or Finning because of currency risk. | 2003-11-04 | |
| TOP PICK | 70.300 | David Burrows | Are just opening, large new facilities in India.Should be a strong market, down the road.They have recurring revenue through leasing equipment.55% of their sales come internationally.A good play on a weak US dollar. | 2003-08-12 | |
| BUY | 57.130 | David Burrows | Has strong recurring revenues because of their leasing sector. | 2002-03-22 |
