I'm Holding PACR Pacer International, shipping play

lattes · June 17th, 2009, 02:17 PM

They have good revenue, costs are going to be cut with price of gas
dropping to a reasonable level (even at $60 - $80 oil)

I like the business model in that they don't own too much and farm out most of the shipping, basically they broker shipping for customers.

I was just doing some screens and this popped out at me, S&P has a 12 month target of $5 but a fair value of $1.20 (Below 52 week low) IMHO under $2.50 is a good entry (Currently around $2.30) but there is a good chance it will breech $2 again (at which point I will likely load up)

They have killed the dividend but historically they were paying out
around 5% when the stock was doing better which is generous. It will
likely be a couple of years before that comes back but this seems
like:

A. a good stock to play with volatility
B. a good long term (2 year+) play.

They have a good customer base and even though their customers aren't
doing much business, when they DO start doing business again they will
be going back to them.

I am in for 6000 shares @ $2.45, next buy in is @ $2

Here is a link to their 10-Q
SEC Filings

Here is a link to the 10-K
SEC Filings

sblok · June 17th, 2009, 02:30 PM

The only concern I have is how fast they burning through cash. Other than that they are pretty decent, used to trade it a lot before they came out with the numbers.

3000 @ 2.47
Adding another 2000 below 2

Elliot · June 17th, 2009, 02:31 PM

I am with you lattes -- 700 shares @ $2.45.
I was trying to play it with volatility (your plan A there

), but didn't sell at around $2.70 before the bears come.

Elliot · June 23rd, 2009, 02:14 PM

Guys, did you average down on this sucker?

lattes · June 23rd, 2009, 02:24 PM

I actually sold out everything at $2.08 and bought back in at $1.90

Elliot · June 23rd, 2009, 02:36 PM

Smart move lattes!
I think I will average down if it hits $1.70. Hope not...

sblok · June 23rd, 2009, 03:24 PM

At the rate we are dropping dont be surprised to see 52wk lows soon. Thats where we are gonna be if we have a few good sell offs in the market.
Double down order @ 1.67, aint chasing this one.

Originally Posted by Elliot

Smart move lattes!
I think I will average down if it hits $1.70. Hope not...

elian · June 24th, 2009, 01:10 PM

this guy hitting fan or wat ? Why the mad dip ?

lattes · June 24th, 2009, 01:35 PM

Well I am tripling down at $1.70, order hasn't filled yet though

GaryD · June 24th, 2009, 01:46 PM

Any idea what the $200m 'Unusual Expense' noted on their Income Statement is about? Absent that they are nearly break-even.

lattes · June 24th, 2009, 03:09 PM

It is a goodwill writedown.

lattes · July 8th, 2009, 12:00 AM

Well, S&P still has a $5 target on PACR, I guess we will see what happens with Q2 reporting, I am not buying anymore right now but something to watch and if you don't have any you might want to take a small position.

Elliot · July 8th, 2009, 12:13 PM

I got out with a small profit when it ran up to $2.60 several days ago. It's kinda scary just watching it slide like this again.

sblok · July 8th, 2009, 12:20 PM

Im in the FREE SHARES mode, if we see below 1.60 I'll add. This one is a coin flip though, the earnings could be pretty ugly.

Mendy · August 24th, 2009, 11:24 AM

Good job for those holding free shares...

Anyone buying here?

Moved higher today on financing speculation.

sblok · August 24th, 2009, 11:29 AM

I sold last week. I'll be re-buying in a few months below 2.

sblok · November 2nd, 2009, 02:22 PM

PACR reporting tommorow after bell, something to keep an eye on.

sblok · November 3rd, 2009, 04:14 PM

http://www.businesswire.com/portal/s...07&newsLang=en

sblok · November 4th, 2009, 10:35 AM

Hopefully some of you are on board here

pgsc · November 18th, 2009, 01:24 PM

Watching PACR

It was in the 4's a week ago. Dry bulk index up 30%, gonna help here as PACR transports dry bulk goods to the docks.