I think AMNF has about $32MM to $34MM in revenues this year with about .12 to .128 in earnings. That puts this in the $2.30-$2.60 range. If that plays out, another special or divvy bump to .018/Q is very possible. Slowly interest is building, so I think we are starting to become a takeover candidate. The number of people getting alerts on seeking alpha is about 160. That was 100 a year ago. I know those are still tiny numbers, but I remember in the 1990s, it was just me and Rickeyrat showing up at the shareholder ravioli lunch. If that starts growing by leaps and bounds, then we are in play. I would expect that more mutual funds join in as the annual gains start getting picked up on stock screeners.
I think the takeover premium is more modest 15-20%, since we have already run 100%+ in the last 12 months, some of that is already built into the price. So i think $3 is the max upside and $1.80s is downside risk. Just the humble opinion of a holder of this stock for the last 25 years. Good luck to all.
From their 2013 annual letter:
Armanino was our star of 2013. At last report, it was on pace to grow its earnings per share 13% as it continued to sell more of its (tasty) frozen pesto sauce. Equally important, management’s behavior demonstrates that they actually like their shareholders, and it paid out a significant portion of its free cash flow via dividends. We started buying Armanino at the beginning of 2013, and our total return so far is 103%. I wish we had found 20 Armaninos. Despite the run-up, the value of the shares remain relatively reasonable, with the total shareholder payout still in the mid-single digits.
Should be able to hit .12 earnings per share x P/E of 20 = $2.40. Next tidbit is the Bretton fund annual letter due out anytime. AMNF was likely one of their leaders, so we may get some positive commentary.
slowly, but surely the word is spreading on this gem. I still think the 5 and 10 cent drops are just walking it down for accumulation ahead of earnings and a good 2014