Q: Arx has hit the same resistance levels ie $26 several times in the last few months. It can't seem to break through.
Any hope here or is there a problem on the balance sheet etc ?
Thx
Any hope here or is there a problem on the balance sheet etc ?
Thx
5i Research Answer:
With recent setbacks at Attachie (see Q&A forum) and some broker downgrades, ARX might consolidate a bit. The stock is cheap and the dividend attractive, but the stock might need some good news to break out above $26. The balance sheet is fine with debt about 1x cash flow today. We would not be overly concerned here.