FWIW, i sold the last few shares of my IPII yesterday after what was a mediocre Q2 report...in absolute terms, .40 for a 20 dollar stock is a nice quarter, but year over year EPS growth of basically zero is not very compelling
i bought this stock a year ago at a buck (4 bucks split adjusted) on exactly these same earnings, hard to justify owning it at over 5 times that price when it reports the same quarterly number
they did pay higher taxes this year, and they probably had startup costs for their capacity expansion, so this may have depressed their growth in this quarter, but given the extremely strong construction markets in the southeastern states they serve, i still would have expected a stronger report
in any event, ring the bell one last time on IPII as it far surpassed 50% from this last post, reaching about 150% at one point, though unfortunately i didn't sell all my shares up there <g> it is still well over 50% above the price from that last post...the prospects remain solid for the future, so i would look to get back in somewhere lower than this, probably based more on the chart than anything else, but for now i am standing aside and i will let the IBD/momentum crowd fight over the short term price swings |
