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Cooper Tire & Rubber Co. Message Board

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  • DONEDEALER DONEDEALER Dec 8, 1999 7:10 AM Flag

    52 week lows

    I looked at ALN and would pass on it because
    it
    does not meet my screen and I know nothing
    about
    business which would cause me to pursue
    it. This does
    not mean it is not a good
    investment.

    In
    its favor, Gabelli is buying but not in size: Gabelli
    Equity Trust added 10,000 shares in 3Q to bring to
    110,000 shares.

    The BV is about 9.20, not much
    progress since
    5.37 in 1983 with little or no
    dividend.
    Major change in profile with spin-off of auto
    parts
    business in 1995. Very little progress
    since then with
    BV 9.55 in '97 and 9.10 in
    '98. This is well
    short of double digit
    momentum I am seeking.


    Of 6 analysts following 4 are hold (means
    sell).
    Projecting 12.5% growth in EPS but
    Valueline projecting
    only 8.5% with $1 EPS
    in 3-5 years.

    On this
    basis I would not pay BV. Current
    price of 9.50
    slightly above BV. In early
    1999 price fell to 4.50 or
    about 50% of BV.
    Therefore, if I were interested it
    would be
    at 50% of BV or 4.50 because this is
    the
    benchmark low for this company. Further,
    with single
    digit average projected ROE
    it appears that a
    substantial discount from
    BV is necessary to achieve a
    bargain purchase.

 
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