RECY Mentioned In Dick Davis Digest...
Sergio and All:
Here is an article from the February Dick Davis Digest listing Analyst and Newsletter Top picks for the year...
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ENVIRONMENTALLY SPEAKING....
RECYCLING INDUSTRIES: SHREDDING
"Recycling Industries (RECY 6 TC) is a metal
recycler engaged in the collection and processing of
ferrous and non-ferrous metals for resale to both domestic and foreign steel producers," says Lohn Uglesich (Crescent Citv Investor's Report, P.O. Box 15347, New Orleans, LA 70175, 11 issues, $45). "Recycling was formed in 1988 and provides quality and 'value-added products and services' to its customers. They actively pursue the 'acquisition, integration, and growth of metals recycling companies.' Since May, 1994 Recycling Industries has acquired seventeen companies bringing their annual revenue today to approximately $455 million. There are approximately 200 facilities that have the heavy duty auto shredders that produce high quality ferrous scrap. It is management's intention to continue to acquire as many of these companies as possible. Also, Recycling tries to keep local management in place by signing them, when possible, to multi-year contracts. The executive officers and directors as a group own 17.8% of the outstanding common stock. Recently, Mr. H. Warick Jervis, with William Smith Special Opportunities, initiated coverage of Recycling Industries with a ,strong buy' recommendation. They set a 12-month price target of $15, and earnings estimate of $0.24 a share in 1998 and $0.55 a share in 1999."
Jim |
