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| BUY | 6.260 | Michael Simpson, CFA | Backlog is still quite healthy but a little lower than what some analysts were expecting. There is also concern that some municipal transit authorities will not be able to get financing for bus purchases. Feels this is a good entry point. | 2008-11-20 | |
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| BUY | 8.900 | Sandy McIntyre | Not an income trust structure so won't be caught by the CIFT (?) Rules. Manufacture urban buses. Order backlog is close to record levels. Delivering a lot of higher margin buses and winning market share. | 2008-10-24 | |
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| BUY | 11.600 | Michael Simpson, CFA | Largest manufacturer of mass transit buses in North America. Investment bankers created the IPS structure to mimic income trusts sold will not be impacted by the trust legislation. Paying taxes on their US holdings. Outlook is quite good. | 2008-09-19 | |
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| TOP PICK | 12.000 | Don Lato | Mass transit is going to be a growing business and this is the largest manufacturer of mass transit buses in North America. Has a $3 billion backlog that gives them about 3 years. | 2008-06-11 | |
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| PAST TOP PICK | 9.600 | Sandy McIntyre | (A Top Pick May 12/06. Down 1.6%.) Developing buses that will increase fuel efficiency. Probably be a takeout within 12 months. He sold for tax losses. | 2007-04-13 | |
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| Comment | 9.410 | Michael Sprung | Large bus manufacturer. 4th quarter had some disappointments, but they were adding capacity at that time. Seems to have addressed most of their operational issues and it should be all right. | 2007-04-11 | |
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| PAST TOP PICK | 9.180 | Sandy McIntyre | (A Top Pick Oct 13/06. Up 5%.) An IPF structure and should not be affected by the government ruling. Manufactures buses and if there is a continuing high energy cost, there should be more density in urban transit. | 2006-12-29 | |
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| DON'T BUY | 8.700 | Michael Decter | Because of their structure, they were not caught in the income trust changes. Would be a little careful until the rules are clear. A high degree of volatility. | 2006-11-24 | |
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| BUY | 8.300 | Ravi Sood | A main competitor was recently a target of private equity players at a very high multiple. This implied a much higher price for this stock, which gave it a boost. Business is growing very quickly. | 2006-11-17 | |
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| BUY | 8.000 | Michael Simpson, CFA | Manufacture buses for cities across North America. 3rd quarter will be a bit weak because of a strike they had. Management sees a good outlook for 2007 as their order book is quite healthy. | 2006-11-03 | |
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| TOP PICK | 8.670 | Sandy McIntyre | (A Top Pick July 28/06. Down 4.2%.) Had a strike in Winnipeg in April/May resulting in a bad second-quarter. One of the 3 main builders of city buses. Have a good platform of diesel-electric hybrid and fuel efficient diesel. | 2006-10-13 | |
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| TOP PICK | 8.900 | Sandy McIntyre | (A Top Pick May 12. Down 9%.) Affected by a strike which has now been settled. Signed a number of quite large contracts. 2nd quarter will be bad, sold look for a selloff and buy at that time. | 2006-07-28 | |
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| DON'T BUY | 8.350 | Dean Orrico | Manufacturer of transit buses. Most of their orders come from municipalities and they can be quite fickle. That has been a concern. There was recently a work stoppage at one of their plants and was closed for a number of weeks so guidance was reduced. Too risky for him. | 2006-06-23 | |
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| DON'T BUY | 9.400 | Robert Lauzon | Manufacturer of buses out of Winnipeg Not a bad trust in that he thinks there will be more push towards public transport. Doesn't think it's suited as an income trust. Very cyclical. | 2006-05-18 | |
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| TOP PICK | 9.650 | Sandy McIntyre | (A Top Pick March 3/06. No change.) Winnipeg facility was out on strike which has now been settled. Have new orders for diesel electric buses, a high margin business. Just had a series of very significant orders. | 2006-05-12 | |
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| TOP PICK | 9.650 | Sandy McIntyre | Last years IPO, that failed because of the idea, although the business is sound. They make buses in Winnipeg and the States. The states have an active energy program that NFI is benifiting from. | 2006-03-05 | |
Experts that have talked about New Flyer Industries Inc.
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