Research Library
Below is our research library, listed in reverse chronological order. Please use the search box to look for research on a specific company or topic, or use the Calendar, Archives, or Sector links at left to browse for research from a specific time period or sector. If you are a Wolfe Trahan client and can not access any of the links in our library, please contact ITSupport@WolfeResearch.com to request our PDF decryption plug-in.
ALGT: A319 acquisition: yet another risk/reward for ALGT
One of the most intriguing characteristics of ALGT, in our view, is management’s appetite for prudent, commercial risk taking. And today’s announcement that the company will acquire 19 A319 aircraft through 2015, using a mix of operating (nine) and capital (ten) leases, is yet another illustration of this. Considering management owns ~21% of ALGT stock, investors should feel comfortable that new ventures are not entered into lightly and/or without one ultimate outcome in mind: will this decision create shareholder value? We think this will.
SAIA 2Q Earnings: Another Impressive Report; Materially Raising our EPS Estimates
SAIA reported 2Q EPS of $0.72, more than 40% above Cons. and improved about 250% vs. a year ago, driven by 430bp of OR improvement. Following ODFL, SAIA has clearly differentiated itself for consistent financial performance among the public LTLs the past 2 years and we believe it’s the most likely LTL to reach new peak margins this cycle with an ability to grow, build density and expand margins off a relatively low base. We reiterate our OP rating and $29 target price.
Research Library
- Coverage List
- Consolidated Research Library
- Airfreight & Surface Transportation Library
- Portfolio Strategy & Quantitative Analysis Library
- Accounting & Tax Policy Library
- Auto & Truck Manufacturing Library
- Airlines Library
- Conference Calls
- Interactive Doh! Models
- Ed Wolfe Bi-Weekly Freight Update