posted
i sold a little also but have decided to mostly hold a good chunk of PDGE long. i may regret it as i expect it'll have some ups and downs, but my decision was based on several main reasons:
* i'm tired of selling stocks too early, have made a career out of it lately!
* honestly i think they're very well positioned to do quite well over the next 3-5 years. not only hurricane cleanup work, but i'm still "bullish on mold".
* they still don't strike me as overvalued, based on their profitability lately
* have read the terms of the flagship deal a few times over, and i think odds are that they got a very good deal on it and that flagship will add nicely to their bottom line. osubucks and i discussed this awhile up in this thread.
anyway, have swung-trade a bit and lightened up a bit, and may jump on some swings in the future as well. but, i like this one long. it's all in my kids' college funds which i won't need for years, so i'm going to hold a chunk long and see where it stands a few years out, we'll see.
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posted
holding up nicely here - dipped to 1.70 yesterday but support held nicely, now back in the low 1.80's again. volume has definitely tailed off a bit, but - pps is holding up OK.
honestly i'd be happy to just have PDGE hold 1.70-1.75 awhile and start to establish that as a new base of support for potential future moves up. too early to tell if that'll happen, but - a nice initial indicator that it's held gains at least so far.
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posted
bounced up 4x against 1.91 resistance and couldn't break it, but - still, a very nice close for PDGE - all-time high close today of 1.90.
ok, off to pack all of the tailgating coolers for tomorrow's UM/ND game, feeding 12 - yikes! osubucks, if you're reading this - good luck vs texas tomorrow! i put $20 on your buckeyes, i think they win a squeaker at home
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posted
yup, UM's D has clearly been struggling, just not the personnel in the secondary in particular that they usually have.
amusingly, i have about 1100 posts here at allstocks, and about 1100 posts as "spongebob_bluepants" over at the UM rivals message bord. one of these days i am going to post about ALMI and PDGE over at rivals and everyone will scratch their head and say... "huh"? i wonder if i hold some kind of dubious record for breaking the 1,000 post mark at both a college football and a stock website, heh.
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posted
I wish I din't sell early. i'm going to be watching now but I dont think i'll get in I've tried chasing stocks that I got out of early before but I got burnt so i'll just watch.
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posted
i don't blame you vg, i'm not a "chaser" either. hard to say with PDGE what will happen, was some nice buying towards the end of the day pushing it to a 2.06 close but hard to say if it'll last. investors can be fickle and get bored easily and want to move on to something else, has been on a great run and may very well have some dips.
i do like the buying pressure though for right now, volume and interest is still there and i think it's still entering the radar of new investors who never heard of PDGE before.
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posted
wow, it's astounding and sad just how many mold problems there are going to be in the wake of katrina. if you plug mold and katrina into google, you get about half a million links returned, just a few samples:
posted
i like that PDGE held $2 today. need to protect gains, but - i want to give this one some room to hopefully run. am going to set a trailing stop at 1.88 and hope it never hits it.
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posted
Good luck blue at this time i'm just watching u. I'm short of funds or else i'd had got some more ALMI at 0.96, 0.97 today. but my funds hadn't settle so will have to wait a little and watch u play more PDGE Good luck
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posted
PDGE Q results just out, earned .03 on the Q. still reading, but - about what i was expecting. they had to dilute a bit to buy flagship, so the downside is there but not the upside of all the additional flagship profits yet. this Q wasn't bad, and i expect upcoming Q's to be increasingly better.
from the PR:
John Regan, Chairman and CEO of PDG Environmental, commented, "Growth in revenues and, more importantly, earnings continued in the second quarter thanks to solid organic growth and focusing on improving operating efficiencies. The recently announced acquisition of Flagship Services Group will start to enhance our revenues and earnings, and with the tremendous demand for our combined services as a result of Hurricane Katrina, we are anticipating continued growth in revenues and earnings in the second six months."
anyway, still reading. no idea how the market will take it, we'll see.
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posted
well, i guess the market didn't like the Q, ah well. got stopped out at 1.88. irks me to be out, but - there it is.
weird thing to me is: even if you annualized out the .03 profit this Q, that comes out to a PE of about 16, not exactly huge. and that of course discounts the fact that this Q suffers from the payment and dilution for flagship, from which they have yet to reap the benefits. not to mention factoring in the fact that flagship has higher margins than PDG, and the added work due to katrina and other hurricanes.
anyway, looking for reentry on dips, have a buy order out at 1.78 now.
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posted
weird day: a lot ran off at the .52 ask at the open, then suddenly the rug got pulled out and almost instantly dropped to .45x.50, now slowly working it's way back to .52x.53
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posted
nice little late-day bounce. ended up changing my mind and buying a little back at 1.88, exact same price i sold it for this morning, heh.
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IMO anything below $2 is a great price. With 15 MILLION shares the company is valued at $30 Million. After buying Flagship revenues will be $70-$80 Million a year so IMO it is very cheap considering the recent quarter did not include Flagship. Also they said that before Katrina hit so the second half of this year should be stronger!!
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posted
yeah i have to say, i like the long-term outlook for PDGE - they should be quite busy. regan's statement in the PR today was a pretty good hint, he's not prone to overstatement.
kind of amusing, buying PDGE at the exact same price i sold at just a few hours earlier, heh. eh what can i say, i mess up all the time in the market! should have gone with my initial instinct that the report today was a good one and that business was going to be good, just experimenting with trailing stops and trying to protect profits.
is funny, you could say a lot of bad things about me based on my history of allstocks posts, perhaps starting that i'm a blabbering purl-wannabe who likes boring stocks and always sells too early. but - at least you can't ever say that (a) i'm a pumper or (b) i don't admit my mistakes, and they are frequent. i always try to be as open and honest as possible of my views on pros and cons with certain stocks (not that many read my blabbering anyway) and try to always see both sides, and often openly criticize my own holdings. also, i mention my mistakes almost daily here - made a lot in the last 24 hrs alone: sold PDGE and then rebought at the same price, sold a chunk of ETLT too early yesterday, didn't sell GFCI at the spike at the open today and rebuy for 15% cheaper a few hours later, i didn't sell GMAI at 15 yesterday, plus probably a few others i'm forgetting. d'oh!
actually, it'd be refreshing for me if more people here shared their mistakes, somehow the unregistered pumpers are always claiming that they bought at the bottom and sold at the top, which i highly doubt the veracity of much of the time.
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This is reminding me of HOM (but this one has less shares). HOM acquired a company that added to earnings. The stock of HOM fell when they reported earnings a month later. Then the next quarter that included the acquisition the stock soared!!
I think PDGE will have a similar run. I'm not making the same mistake I have been by selling to early or panicing when the price falls!! For the next couple of months this will be a good buy. I will keep adding at these prices. With all of the clean up due to the Hurricane it is EVEN MORE ATTRACTIVE!
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posted
yesterday's dip back to the low 1.80's was disappointing, but - yeah i agree bucks, am going to hold my small portion and be looking to add on dips. they're trading at a trailing PE of about 10 now, compared to a trailing PE for HOM of about 28 now, so they hardly strike me as undervalued. they had a big backlog already even before any hurricanes this season, and of course you have to add in the flagship revenues. as you and i discussed awhile ago, it still seems to me like they got a good deal on flagship. all in all weighing the pros and cons, i sure see a lot more pros than cons in holding PDGE, we'll see how it goes. yesterday was disappointing for PDGE and actually several of my holdings, but - am not selling anything at this point, as long as i still like the companies.
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posted
Well Hurricane Rita will create even more work for this company. Nice move today on great volume! 50 day average volume is 164,000 today over 460,00!
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"PITTSBURGH--(BUSINESS WIRE)--Aug. 29, 2005--PDG Environmental, Inc. (OTC BB: PDGE - News) announced today that it has acquired the assets and operations of Flagship Services Group, a recognized leader in both large and specialty loss repair and reconstruction. Flagship's expertise includes the repair and reconstruction of damage caused by wind storms, fires, and floods as well as mold remediation. For additional information on the company, please visit www.flagship-services.com. The terms of the transaction were not disclosed. For the year ended 12/31/04, Flagship had unaudited revenues of $19.4 million and adjusted pre-tax profit of $2.2 million. For the 7 months ended July 31, 2005, unaudited revenues were $17.8 million with a pre-tax profit of $2.3 million. Current backlog for Flagship is in excess of $5.5 million, creating a combined backlog in excess of $40 million."
Rita is of course headed towards Texas, at least at the moment.
"Flagship's expertise includes the repair and reconstruction of damage caused by wind storms, fires, and floods as well as mold remediation."
as of 8/29 PDGE/flagship had a $40M backlog, certainly seems possible that it could well be much larger than that in the future.
posted
Blue or anyone else PM me if you want me to ask some questions or find out anything about flagship, I just saw the flagship building when I was coming back from a friends place. It's pretty close to where I stay. If anyone around the D/FW area want to see them, they are on I-20 and Collins. I had passed by there about 3 months ago, they were just building the warehouse.
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posted
vg - interesting, sure: gimme all you got. how big does it look/how many people would you guess work there? configuration - is there just one building, you mentioned a warehouse, is that an additional building i take it? any other impressions?
as a side note, anyone ever play with "google earth"? is an interesting little tool - you plug an address into it, and it zooms in to give you a satellite view. i've plugged a few company addresses into it, just to get a sense of the location and building size. but just plain fun to play with anyway. the little app can be downloaded at earth.google.com.
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posted
the wolverine agrees with the buckeye, quite a day! almost 1M shares traded.
too bad there's not more Big 10 football fans here, the humor of osubucks and blue having a running discussion appears to be lost on most folks.
so, the question now - how long to hold? was pondering today, obviously. in contemplating, am going back to what i posted several days ago, my reasons for holding:
* i'm tired of selling stocks too early, have made a career out of it lately!
* honestly i think they're very well positioned to do quite well over the next 3-5 years. not only hurricane cleanup work, but i'm still "bullish on mold".
* they still don't strike me as overvalued, based on their profitability lately
* have read the terms of the flagship deal a few times over, and i think odds are that they got a very good deal on it and that flagship will add nicely to their bottom line. osubucks and i discussed this awhile up in this thread.
as wary as i am of how stocks often have a pullback after runs, i still feel pretty good about each of these 4 "reasons to hold PDGE". and of course you could add a few more: flagship should be well positioned to add to their big backlog, and sure looked bullish today.
am going to keep holding, even though i may get burned or at least have to suffer through some pullbacks.
reason #4 in particular, i think is somewhat "undiscovered" by people, i doubt many people read and tried to understand the terms of the flagship deal and whether or not PDGE got a good deal on them. i still think they got a helluva deal.
may be some pullbacks along the way, but- i really think that very conservatively speaking, PDGE is good to earn at least .20-.25 over the next 4 quarters, potentially quite a bit more. by that measuring stick, they still don't seem overvalued to me. i think PDGE can earn as much as HOM over the next year, and HOM is trading over $5 at the moment.
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