Hi all.Looks like little Lifeway is finally returning to reasonable valuation-land. Welcome home!Just a word to the wise (small 'w') -- the earnings report was good, but not great, and certainly not the blowout that had been priced into the stock when it was trading in the pre-split 50s. Moreover, anyone out there who eats food has probably noticed that milk prices skyrocketed last week, up about 20%, and they had been increasing even before this latest jump. That could well put pressure on LWAY's margins, so I would urge caution in evaluating the company's value even at the current, slightly less insane, share price:Historical profitability may not be as predictive of the profitability we will see over the next few quarters. It might be worthwhile to watch the stock for another few quarters, see if the price continues to settle out and see whether the company has enough pricing power to pass on the whole milk markup to consumers.I still am convinced of the company's quality, but the stock price decline does not have me putting the truck in reverse just yet.Fool on!Rich
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