STOCKCHASE

(Top Pick Jan 26/11, Down 28.20%) Hurt badly in the spring when weather was bad and housing renovations stayed low. Odds of another bad year due to weather are low.

2012-01-19

TOP PICK

9.450

(A Top Pick Dec 29/10. Down 32.47%.) What has hurt this company mostly, is not the competition, but really the weather, which discouraged home improvements, which is their biggest market. A couple of years ago, the Canadian government put an incentive in for homeowners, which created a vacuum afterwards.

2011-12-14

BUY

8.960

Getting hurt by tax loss selling. Home improvement industry has been hurt because people are putting off renovation and were hurt by bad weather in the spring. Thinks next year will be quite strong. A well run company. Book value is about $10.25 so you are buying under value.

2011-11-29

DON'T BUY

9.450

Steve Carlin

Big value trap. Is cheap for a reason. Suffering from same store sales growth declines. If you can’t grow traffic and revenue you have to take along hard look at the company.

2011-10-26

BUY

10.040

Likes it. Problem has been bad weather. Won’t be the case next year. Stock has been going up while market is going down.

2011-09-23

Comment

9.730

This is a true contrarian stock. Every one hates the retailers. Stumbled for the last 4-5 quarters. CFO resigned. Stock price is below BV but also below tangible book. Eventually that market is going to improve. You will have to be patient for the bottom line to set in.

2011-09-09

TOP PICK

11.120

Randy LeClair

(All 3 of his Top Picks are Preferred “Rate Resets” and are laddered so they come up in 2014, 2015 and 2016. Also staying with non-financials with a slightly lower credit grade.) 5.25% Series 6, Class A. dividend yield is around 5.18%. Makes a lot of sense, especially in a non-RRSP account.

2011-08-04

DON'T BUY

11.180

Douglas Kee

Rough looking chart and business. Did well in the last business cycle because housing starts were going up in Canada. Were smart in buying competitors out. He is not looking at it now.

2011-07-21

BUY

11.930

Trading below Book Value of around $14.90. Tangible BV is probably $2 or so lower. Lost money because of poor sales on gardening so analysts turned negative. Fundamentally cheap. Great contrarian play.

2011-07-08

TOP PICK

11.820

Great price for people looking out a year. Has been suffering from really bad weather. Canadian government had tax incentives for home improvement a year ago and this took away from current sales. Hopefully the weather will be better next year across Canada, especially on the weekends. If so, sales will be better.

2011-06-29

TOP PICK

12.100

Look out one year on this one. Weather is horrible across North America for home improvement companies and people haven’t been buying gardening equipment etc. Hopefully the weather will be a lot better a year out and same store sales will be a lot better.

2011-05-20

Comment

13.790

Christine Poole

Doesn’t follow this one too closely but follows the home improvement sector. Sector as a whole hasn’t done very well. Consumers are being conservative in their spending. Big ticket items are not flying off the shelf. Weather has also played a part in the seasonal; demand for products. Could be an acquisition target in future.

2011-05-02

BUY

13.750

Market cap of about $5 billion and does about $1.8 billion in sales. Very levered to the economy and real estate. Can do quite well in a better real estate market and renovations and gardening. There is a chance that they could be bought at some point by one of the majors.

2011-04-27

TOP PICK

14.800

Gaining Market share. Well run. Just announced their first dividend, which is a positive sign. Spending in their area is holding the whole industry back. Consumer spending will come back later in the year, especially in the home improvement area where people can’t put things off forever. Not expensive.

2011-02-28

Comment

15.270

Well managed. When the economy starts to move, they will do well.

2011-02-18

TOP PICK

13.420

A play on consumer spending. Biggest player in the Canadian market in both retail and wholesale. Had a big sale boost in 09 when the government had the renovation incentive. Sales have been flat in 2010 but renovations can’t be put off forever. Expects consumer will be back.

2011-01-26

TOP PICK

14.270

Lowes (LOW-N), Home Depot (HD-N) and Rona generally move together and track lumber very closely, which has been acting well. Rona has been flat for the last year or two and is getting coiled for a move. Need for home improvement is still here. Also big box stores have been saturated but growth in smaller independents has been doing well. 1% dividend yield.

2010-12-29

Comment

13.320

David Taylor, MBA, CFA

Well run company and have done everything they possibly can in a difficult environment. Very, very cheap but won’t go up until the economy improves. If you are willing to wait 2-3 years he thinks it will double.

2010-12-06

DON'T BUY

13.000

Derek Webb, CFA

Not seeing the momentum in this, nor Home Depot.

2010-11-30

DON'T BUY

12.370

Jeff Parent B. Eng. FCSI

Doesn't trade much, which makes it trickier to analyze. Performing quite well compared to the rest of the market on a relative strength basis. Been outperforming in the last 3 to 6 months. Recently had a drop that concerns him. It will trade at this point for a while until the market absorbs the news.

2009-06-23

DON'T BUY

14.380

(Market Call Minute.) Not the best stock in the group. He would buy Fastenal Company (FAST-Q) before this one.

2008-09-08

SHORT

11.000

Ken McCord

(Market Call Minute.) He is shorting a lot of consumer stocks. Consumers are not spending money.

2008-07-29

DON'T BUY

12.330

(Market Call Minute.) Too early. If you are thinking of Buying in the home improvement sector Lowes (LOW-N) and Home Deport (HD-N) are about 6 months ahead of it.

2008-07-21

DON'T BUY

12.780

(Market Call Minute.) Doesn’t like the home improvement space

2008-05-22

PAST TOP PICK

13.090

(A Top Pick July 31/07. Down 42%.) Still likes.

2008-05-15

DON'T BUY

13.890

The Canadian environment has become significantly more competitive.

2008-03-18

DON'T BUY

14.250

Robert Floyd

You are really looking at consumers and their ability to spend on renovations, et cetera. Some analysts are forecasting a slowdown in the housing space and this has hit the stock. Need to see firmer signs of a bottom in the economy before this will take hold. Growth rate has not been tremendous so valuations are a little bit weak.

2008-01-15

Comment

16.910

Brian Acker, CA

(Market Call Minute.) Still a lot of value here. Trying to hold at around the $17 mark. His model price is $33.80, a 101% positive differential, but his model price is moving down because of earnings.

2007-12-20

PAST TOP PICK

16.700

(A Past Top Pick Feb 14/07. Down 32%.) When he saw a major breakdown at around $20, he sold his holdings. Stock has been very oversold and could have a jump to $18 - $18.50 but you would have to be brave.

2007-11-23

SELL

17.300

Housing market continues to look very bad. They have the added problem of Lowes (LOW-N) moving into the Canadian market.

2007-11-09

DON'T BUY

19.600

Stock is not moving because the housing mess and the fears of a drying up of home improvement activity. In the doghouse and will remain until the outlook for housing improves.

2007-11-06

BUY

20.780

Andrew Guy, CFA

Consolidating its hardware business within Canada. Run their stores very well. Inexpensive.

2007-11-02

BUY

20.870

Brooke Thackray

Has been bouncing around. In a very competitive field. If it drops below $20 because of increased volume it will be a bad situation. Stock increases around year-end. Would pick it up at this level, sell it in January.

2007-10-26

DON'T BUY

20.870

David Driscoll

Great housing boom, getting difficulties because of currency risk. Doesn’t pay a dividend. A lot of completion from Lowes/ Home depot. Not generating free cash flow.

2007-10-25

DON'T BUY

22.000

Chyanne Fickes

Stocks in this sector in the US have been really beaten up. Our housing industry has not sustained the same decline, but she feels we are reaching the top of a bubble here. If there is a downturn in the economy, there could be more downside on this stock.

2007-10-01

BUY

21.510

Michael Sprung

2nd quarter was very good. Price of the stock leaves him indifferent. US building problems could spill over into Canada. Shorter term there could be problems, but over the long term it is probably a good stock to own.

2007-08-31

TOP PICK

21.220

This one is for the long haul. With the slowing that is going on in the economy, it is going to allow them to consolidate the business at very attractive numbers. Trades at around 12X earnings. Earnings increased by about 7% in the last quarter. Growth t

2007-08-27

DON'T BUY

20.810

Jeff Parent B. Eng. FCSI

It's a definite positive that the Canadian housing market has not failed and our tighter controls. Doesn't feel the upside is very high on the stock.

2007-08-15

DON'T BUY

21.270

Robert Floyd

Last quarterly report was affected by weather as well as tuck-in acquisitions they have made. He felt the numbers were reasonable. It is a decent franchise. Thinks it could be taken down with the overall theme of housing stocks. Not a bad entry point, but the upside is modest.

2007-08-10

BUY on WEAKNESS

21.270

Michael Sprung

Feels the renovation market is okay. Has grown through a lot of acquisitions over the years and realized synergies through that. Starting to see some positive results with margin expansion. Would consider at $20.

2007-08-10

TOP PICK

22.470

Well run. Growth by both acquisition and organic. Largest home renovation and retailer in Canada. Very diverse product platform. Moving towards their own branded products, which will give them higher margins.

2007-07-31

TOP PICK

23.060

Missed its earnings this quarter so the stock dropped. Has been a fabulous growth story. Very robust story in terms of big box stores. Gross margins are improving because of its private labels.

2007-05-29

BUY

22.920

A great company and you might think of it as an acquisition target.

2007-05-25

BUY

23.960

Brian Acker, CA

Looks fantasic. Don't own it currently.

2007-05-02

BUY

24.360

Chyanne Fickes

For the last couple of years, it has traded in a tight range between $20 and $25. Had increased earnings for the last 17 quarters. Trading at a very low PE.

2007-03-12

TOP PICK

24.280

Had a good base formation and the stock just broke through a wedge.

2007-02-14

DON'T BUY

22.340

Chyanne Fickes

Rumours of it being taken over, but doesn't think it will happen at this time. It has done very well. Looking at where housing is, she wouldn't consider looking at housing stocks at this time.

2007-02-06

HOLD

21.800

Bill Carrigan

Chart shows it is building a symmetrical triangle. There was a higher low in December. Would be patient with it to see if it could break out. The MACD has turned above the signal line which suggests there is some positive momentum.

2007-02-01

DON'T BUY

21.700

Not so much in new housing as in refurbishing. That area has cooled off some. It's looking at a big competitor coming into the market, Lowes (LOW-N).

2007-01-31

BUY

20.900

Steve MacMillan

“Best of breed” in the home improvement space in Canada. Low P/E because of the concern of investors on the housing market. Acquiring companies with good opportunities to make investments at reasonable prices.

2007-01-03

Comment

20.450

David Taylor, MBA, CFA

Loves the renovation sector. Owns Home Depot (HD-N) instead.

2006-12-18

BUY

22.950

Chris Smith

Stock has probably bottomed. Too much hand wringing about the housing market. The stocks have discounted a lot of bad news in the housing market. Canadian housing is in much better shape.

2006-10-25

BUY

21.920

Steadily improving situation. The company is admirable. A good blue-chip type of stock in the portfolio.

2006-10-19

DON'T BUY

22.010

Veronika Hirsch

Has a short on this. Not a reflection on the company, but that Canada there are not that many housing plays. Because she is negative on housing in the US, she feels it will spill into Canada.

2006-08-29

WEAK BUY

20.790

Estimates of $1.75 this year and $2 next year makes this incredibly cheap. Could be a name he would be interested in once there is confidence that they can keep up the momentum on the home improvement side.

2006-08-14

HOLD

20.360

Ian Nakamoto

Trading at roughly 10 X next year's earnings. There is always a potential the company could be bought out. Well-managed company.

2006-08-03

DON'T BUY

20.840

Michael Sprung

Has done extremely well. More of growth than a value play. Well-managed. A little expensive. Would be more interested under $20.

2006-07-18

DON'T BUY

20.630

David Cockfield

Very much a cyclical stock. They are very subjective to sharp swings in sales. Multiple is a little on the high side. Would prefer to see the stock around $18/19. If there is an economic slowdown and turnover in the housing industry, these are the guys that suffer.

2006-07-13

DON'T BUY

21.000

His feelings on retail are not particularly positive. There has been weakness in some parts of the housing business in the US. There is also some weakness in the consumer space.

2006-07-12

DON'T BUY

23.250

Has not paid a lot of attention to the stock as the performance over the last year has been relatively weak. Would Prefer Canadian Tire.

2006-03-23

BUY on WEAKNESS

23.450

Chris Smith

There we are concerns last year on interest rates which put a lot of pressure on this stock. At this stage, it looks like a pretty decent opportunity. Would probably set back and wait for it to pull back a bit. A pretty good company. The earnings are there.

2006-03-21

DON'T BUY

23.580

Jean-Francois Tardif

Housing might be slowing down because interest rates are heading up. Rona is a well managed company, stock is cheap, but there's better opportunities elsewhere.

2006-03-16

WATCH

21.460

It is a good company. Stock price does not reflect their performance as stock price got ahead of itself. More attractive at $21 than $25. They are watching it .

2006-02-28

SELL

22.000

Negative stock, not behaving well. Sell it before $22.50

2006-02-21

BUY on WEAKNESS

21.050

Home Improvement line. They like it and are watching it, will buy at $20.

2006-02-20

DON'T BUY

20.780

Ross Healy

Has been reacting pretty much along with the outlook for the housing market. Hit its peak around 4 X book value and has been trading in a mushy way ever since. Too late in the cycle.

2006-02-06

WATCH

21.100

Looking at a long-term chart, the next stop on its decrease is $15. The fear is that the Wal-Mart's and other big chains will come in and create havoc with their business. Once it breaks $20 and shows signs of stabilising, he will buy.

2006-01-30

DON'T BUY

20.000

Investors worry about rising short-term interest rates which can hurt housing related stocks. There is also all the concern of Lowes coming into Canada as competition. Long-term, it's a good name to be in. Right now the trend is down so there's no reason to be there.

2006-01-25

BUY

20.580

The whole home improvement sector has been under pressure because of worries that the housing boom is going to implode. Resale homes are at record levels so doesn't think the renovation trend has come to an end. The stock has probably been oversold.

2006-01-19

BUY

21.250

James Cole, BA, CFA

Valuation is quite reasonable at this level. Stock price has dropped because of fears of a housing bubble and if there might be a slowdown in home improvement levels.

2006-01-17

BUY

21.050

One of his favourites and with the pullback the P/E ratio is 12.2. That compares to 15+ for Canadian Tire. Could be an interesting buy here, especially if new housing slows down and people become more interested in renovations.

2006-01-16

HOLD

21.520

A great company. Developing its chain into Quebec and across the country.

2006-01-03

BUY

21.730

Brian Acker, CA

Has a model price of $33.59. A 54% differential.

2005-11-14

DON'T BUY

20.770

In the short term there's been a couple of warnings from the US home builders taliking about weakness. If the concern about short term interest rates starts to catch, and consumers start to pull back, this is an economically sensitive stock.

2005-11-11

BUY

22.020

Renovation sector looks very strong. A great company.

2005-10-11

BUY

22.830

Has a huge business in small stores around the country so competition from big box stores is not much of a problem. Very service oriented.

2005-09-28

HOLD

23.700

John Zechner

Stock has lagged probably due to worries on the housing and renovation markets. Feels this is more of a problem in the US where the real estate market is way more extended than it is in Canada. Company has been well run.

2005-09-13

WEAK BUY

23.880

Gordon Higgins, CA, MBA

Has done extremely well. Consolidated a lot of the home business. Home Depot (HD-N) is their competition, but are limited ti big box stores where Rona uses both small and big facilities so has more opportunities as to store location. Same store sales are starting to decline.

2005-08-11

HOLD

22.770

Bill Carrigan

In a defensive sector (consumer discretionary) where managers might want to rotate into. Had a run up and is now in a consolidation phase. If you own, don't let it make a 52 week low.

2005-08-09

BUY

23.800

Martin Hubbes, CFA

Has executed extremely well. Thinks people may be worried about competition from Home Depot (HD-N) and Lowes Companies (LOW-N). So far they are holding their own and doing extremely well. You'll have to watch out for the long term risk.

2005-08-02

SELL

23.850

Easy money has been made. Very well managed company. Lowes is moving into Canada and will be competition and will hurt the stock.

2005-06-06

BUY

22.860

Gavin Graham

Somewhat off over the last few months after a strong run. Home hardware is a marvelous area to be in.They've become the consolidator in the Canadian industry. Well managed. Will continue to do well and is only nid/high teens for pretty good earnings growth.

2005-05-16

BUY on WEAKNESS

25.160

Interested in 3 key stocks in the retail area, Rietman's (RET.NV.A-T), Canadian Tire (CTR-T) and Rona (RON-T) and will buy one or more of them on any pullback.

2005-04-26

WAIT

24.800

Very often, when a stock goes for a 2 to 1 stock split, it goes into a bit of a waiting period. $21/22 might be a pull back level.

2005-04-11

HOLD

49.600

Home improvement has been a great place to be invested over the last couple of years. Does see some slowing taking place although this company has been the leader in the Canadian market. Just watch for slowdown in the sector.

2005-02-15

DON'T BUY

48.150

Gordon Higgins, CA, MBA

Likes that it went beyond the big boxes. They also have smaller stores that they operate in other areas. Have made astute acquisitions which is why the stock has risen dramatically. Now getting to the point where you are now starting to price in the next acquisition. Be cautious at these levels.

2005-02-09

DON'T BUY

46.900

Jean-Francois Tardif

Doesn't like to buy stocks when they have moved up dramatically. Have made some great acquisitions. Too expensive at this time. Expects the housing boom to slow down.

2005-02-03

BUY

46.900

Gavin Graham

Talking about increasing their stores by 10%. Housing sales are still good and even if this slows down, renovation should be strong.

2005-02-03

WEAK BUY

44.460

Veronika Hirsch

Has done a super job in making/integrating acquisitions and growing. If interest rates rise in the US, they'll have to eventually rise in Canada which may slow down housing. Rona is leveraged to the renovation market so they won't be hit that hard. Great company, but not wildly enthusiastic about the sector.

2005-01-28

WEAK BUY

44.150

The whole home improvement market has tremendous durability. Interest rates staying low is very good for them. Not cheap.

2005-01-25

BUY

41.600

John Zechner

Looks good for the long term. Last quarter was very strong. Still doing acquisitions and consolidating the market. Not very expensive.

2004-12-21

HOLD

38.800

Have done a terrific job and there timing was perfect in being right on top of the home renovation and new housing boom. Sensitive to interest rates. Not cheap any more.

2004-12-09

HOLD

38.900

Jean-Francois Tardif

Very impressed with their numbers. Wonders if they can continue to grow at a good pace. Not a dirt cheap stock. Not bullish on consumer spending. If you own, it is probably a good long term hold.

2004-12-03

TOP PICK

34.980

Blair Wilson

Earnings will be announced tomorrow, so see what they are before buying. Estimated that they will be $0.63/0.64 a share. Strong balance sheet and a great history of consolidating. Valuation is about 16 X this year's earnings. 15% growth is expected.

2004-11-10

TOP PICK

31.500

Ian Nakamoto

Very successful in making acquisitions. Well recognized by the consumer. Trades at 12 X estimated earnings.

2004-09-14

TOP PICK

31.190

Jackee Pratt

Excellant growth rate. In the second quarter earnings went up 75%. Largest Canadian hardware company.

2004-09-03

WAIT

30.950

David Chapman

Has been on a uptrend in the first quarter of the year and on a drift in the second quarter. Wait to see the new high for this company.

2004-09-01

PAST TOP PICK

30.850

Blair Wilson

(A Top Pick June 15/04. Then: $29.06) Trading cheaper than it did in the past. 30 dollars or below is the establishing position.

2004-08-31

BUY

27.620