Score a Great Deal During Memorial Day Sales -- Savings Experiment
Don't Worry About Today's Retirees: Boomers Are Fine, (but Gen X…
Goodrich (GR), a company that supplies items to the aerospace and defense industries and whose competitors include Honeywell (HON) and United Technologies Corp. (UTX), issued its fourth-quarter results on Thursday. Friday, the shares hit a new 52-week high of $94.12 during the intraday session; they eventually settled down to $93.09, good for a gain of 0.6%, a move backed by above-average volume.
The 52-week low for the stock is $61.24, so the shares have come a long way over the last 12 months. The chart shows a nice uptrend that emerged from a round of sideways trading. How was the Q4 profit? Does it validate the bullish sentiment?
According to Bloomberg, continuing operations generated $1.15 per share. That number was eight pennies ahead of the overall projection. In addition, guidance for the upcoming fiscal year was increased.
I like it. I believe there's a good chance the technical strength will continue. I do have one reservation, though.
The valuation isn't wholly attractive, in my opinion. I would definitely want to acquire this one at a cheaper stock price.
That being said, I suggest keeping Goodrich on a watch list. If it becomes too technically attractive to pass up, then it must be considered with a serious amount of due diligence. No matter what, I would wait at least a little while before making a move.
Disclosure: I don't own any company mentioned; positions can change without notice.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
2-06-2011 @ 12:27AM
Mitchell said...
I have BF Goodrich on my Diesel PU, just bought 4 tires for small GMC,not every one hoe good your tires are, they never wear.
sincerity
Fred Mitchell
Southern Ore