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Non-Tech : Lufkin Industries (Nasdaq: LUFK)
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To: Yuppy who wrote (27)2/21/1998 1:44:00 AM
From: Todd D. Wiener  Read Replies (1) of 103
 
Yuppy-

TMAR certainly appears undervalued. But at this point, most oil service/driller/equipment companies are very cheap. They are trading at prices assuming that crude oil is going to stay around $15 forever. Most of these stocks will be excellent buys when the price of oil improves. TMAR has a good growth rate, high margins, and a good return on equity. My problems with it are its high debt levels, low cash levels and relatively low current ratio. Still, it may be a good buy. I think that there are better stocks in the oil area, but it would be a good idea to wait until the bottom has been confirmed. I think that we've seen the bottom in the stocks, and now we need to wait for a basing pattern and subsequent upturn. When that happens, TMAR, LUFK and a lot of others will most likely rally. But oil prices need to climb to support these stocks.

Todd
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