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| DON'T BUY | 3.350 | Jason Donville | Strongco (SQP-T) or Finning (FTT-T)? Finning has a better long-term track record. Both are good long-term holdings. Heavy equipment is very much driven by economic cycles but wouldn't be too excited at this time. | 2010-10-04 | |
| DON'T BUY | 6.800 | Chris Rankin, MBA, CFA | Was hit with the income trust tax. Had a bad quarter, and is smaller then their competition. | 2007-10-19 | |
| DON'T BUY | 7.700 | Jean-Francois Tardif | Dealer of heavy equipment. Worst stock in sector. Won’t trade substantially above book value. Doesn’t expect down/up side. | 2007-09-17 | |
| DON'T BUY | 7.700 | Jean-Francois Tardif | Dealer of heavy equipment. Worst stock in sector. Won’t trade substantially above book value. Doesn’t expect down/up side. | 2007-09-17 | |
| PAST TOP PICK | 7.520 | Jean-Francois Tardif | (A Top Pick Aug 8/06. Down 63.3%.) Heavy equipment dealer and servicer. Will benefit from infrastructure build up. Sold all his shares after the 2nd bad quarter. | 2007-08-07 | |
| PAST TOP PICK | 8.240 | Jean-Francois Tardif | (A Top Pick Aug 8/06. Down 63%.) A dealer and servicer in heavy equipment. Have not delivered anything close to what they should have. Sold his holdings. | 2007-07-16 | |
| DON'T BUY | 8.030 | Chris Rankin, MBA, CFA | Is a bit of a "gong show" right now. Have some debt issues right now. hold rating of $8.50 | 2007-06-08 | |
| PAST TOP PICK | 8.260 | Jean-Francois Tardif | Disappointed him greatly. Other companies in the same business are benefiting from the construction boom in Canada, but Strongco isn't. | 2007-05-22 | |
| HOLD | 8.950 | Andrew Guy, CFA | A group of businesses that sell and rent heavy equipment to the construction sector. Very economically sensitive. Not a big fan. | 2007-04-09 | |
| PAST TOP PICK | 13.810 | Jean-Francois Tardif | (A Top Pick Mar 16/06. Down 23.5%.) The government’s rule on trusts and the weakness in the oil/gas sector has hit this trust. 3rd quarter of 06 was weak. Looking for the 4th quarter results this week. | 2007-03-13 | |
| BUY | 14.130 | Jean-Francois Tardif | Wholesale dealer of heavy equipment. Because of the large expansion in Alberta, as well as strong mining in other provinces and infrastructure spending is going up, companies like Strongco (SQP.UN-T) and Wajax (WJX.UN-T) should do OK. Close to 100% payout. | 2007-02-26 | |
| DON'T BUY | 14.700 | Michael Simpson, CFA | Rents heavy equipment. Have a relationship with Volvo. A lot of exposure to the West. Exposure in the forestry sector is not as favourable. Earnings are quite cyclical. | 2007-02-23 | |
| BUY | 12.500 | Chris Rankin, MBA, CFA | Construction activity out west is pretty good. | 2007-02-09 | |
| PAST TOP PICK | 11.880 | Jean-Francois Tardif | (A Past Top Pick Aug 8/06. Down 45.1%.) Hit with 3 bad items in a row. 1) Analyst gave a negative report. 2) Government announcement on trusts 3) Results were a little disappointing. Giving a 19% yield. Still likes. | 2006-12-27 | |
| DON'T BUY | 12.800 | Robert Lauzon | Rents/sells industrial equipment. Sold his holdings when he saw weakness in the Ontario economy about a year ago. Highly cyclical. | 2006-11-24 | |
| DON'T BUY | 12.990 | Michael Simpson, CFA | Rents equipment for the construction/industrial sectors. Last quarter was a bit weak. Revenue was down 9% in the forestry sector of their business. Very cyclical. | 2006-11-03 | |
| PAST TOP PICK | 17.450 | Jean-Francois Tardif | (A Top Pick June 5/06. Down 6.6%.) There was a lot of selling of small trusts, because of fear of recession. Feels this will go back to $25 next year. | 2006-10-26 | |
| Comment | 19.080 | Robert Lauzon | Recent report on their debt position was in error. Debt level is manageable at 1.2 X to cash flow. | 2006-10-20 | |
| TOP PICK | 21.600 | Jean-Francois Tardif | (A Top Pick June 5/06. Up 4.4%.) Heavy equipment provider. Earnings were up last quarter. Sales were up 50% in the western part of their business. Still paying taxes, but this will probably disappear next year. | 2006-08-08 | |
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| TOP PICK | 20.440 | Jean-Francois Tardif | (A Top Pick Feb 15/06. Up 4.5%.) Thinks it will provide $2.50 of earnings this year. All of their earnings are free cash. Thinks distributions will continue to increase going forward. | 2006-06-05 | |
| PAST TOP PICK | 19.690 | Jean-Francois Tardif | (A Top Pick Feb 15/06. No change.) Distributors of heavy equipment machinery across Canada. Trailing earnings are roughly $1.87 and expect them to make $2.30/2.40 this year. Have added more at the $17/18 area. | 2006-04-19 | |
| BUY | 19.690 | Jean-Francois Tardif | Q: Compared with Wajax (WJX.UN-T). A: Has not moved up as much as Wajax, so is cheaper. Will probably trade at 7 X its earnings. | 2006-04-19 | |
| TOP PICK | 18.100 | Jean-Francois Tardif | Strongco Icome Fund provides heavy equipment for mining, construction and infrastructures in Canada. Company is doing well and is growing. Yield is 10%. It generates a lot of free cash flow. Predicts distribution will rise in 06. There are risks if the economy weakens and Canada goes into a recession. He bought this stock from $13-21. | 2006-03-16 | |
| TOP PICK | 20.050 | Jean-Francois Tardif | Their earnings and margins are growing. The multiple is reasonably low. Expect they will make $2.25/2.50 a share next year. Looking for them to increase distributions to above $2. | 2006-02-15 | |
| SELL | 19.500 | Ravi Sood | Has an excellent exposure, sort of a third derivative play on oil in that they provide a lot of heavy equipment and services to that sector. Would prefer Wajax (WJX.UN-T) which has more upside. | 2006-02-10 | |
| BUY | 14.250 | Jean-Francois Tardif | In the business of distributing heavy machinery. The strength in mining and energy is very positive for them. Prefers Wajax (WJX.UN-T). | 2005-10-26 | |
| WEAK BUY | 14.400 | Patrick Kim | Relatively high yield versus business trusts, but in a very cyclical business. Doesn't have an unblemished past. Very aggressive payout ratio at 90%. | 2005-06-10 | |
| WEAK BUY | 3.500 | Lou Schizas | Up 194% year-to-date. Average daily volume is only 7900 shares. A liquidity and small market cap issue indicate a high risk profile. Getting higher margins on their sales and rentals. | 2003-12-18 |