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This is a stock I found while doing some screens (Hoover's StockScreener) looking for good buys in growth stocks without debt. Since then I've done research, and can't help but agree that this looks like a great value. The company seems to be run intelligently and conservatively.

Someone mentioned the sale of vessels -- I think this should be expected as part of business. The total number of vessels is increasing, while some older ones are sold. The earnings continue to increase, along with revenues. I'm waiting for the next annual report before I purchase (also partly because I will have more free cash in a couple months), to get an update on "the story".

If anyone has more ideas as to why the stock is apparently undervalued, please post. Otherwise, this one looks like a buy to me, even if earnings are flat (which they aren't).
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