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As a deep value investor, KG has caught my attention. I have a "downside" price target of $10.55, which means the stock is trading slightly above my target. The fundamental indicators I watch closely show improvement in most areas.

At its peak in 2001 KG traded at 6 times book whereas today it's trading at 1.18 times shareholder equity.

From a technical perspective, KG is trading at some pretty good support levels it has bounced off of 3 times in the last 2 years.

Of course, there's bad news out there, too. Otherwise the stock would be trading at much higher levels. This is what makes value investing such a wonderful challenge!
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If you happened to listen to their conference call today, you would have heard that KG is a totally changed company. New people, new business model, new location (New Jersey). All they could project today was smoke and hope.

I think I will no longer follow them. I made a good bit of money on the ride up and left before the crash. But this company is nothing like it was before. Too bad, I thought that if managed properly it was a pretty good business model - but that model is gone from King.

Phil
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