I noticed this stock making big moves on October 24. Checking it out, it looks like an undervalued company catching up to it's "fair" value.
They are in chemical manufacturing, 2.77 million shares outstanding with a float of 1.4 million shares. Earnings for the last four quarters of about $5.00, and about $6.20 predicted for the year ending in March 1997. At an industry average P/E of 19, this works out to a fair value of about $117. Current price is $90.25; bid/ask spread is a mammoth $3 per share.Prior to earnings on Oct. 21, this was a $70 stock.
Does anybody have any information on MacDermid? |
