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well unifabs stock price is behaving in a very weak manner .it is down close to its yearly low and had a poor day today on fairly big volume all the oil service stocks were down including my favorite global industries though right now i am out of all of them .they really had gone up to far too fast and it will be at least a year before thier business picks up .relative to others in the group however unifab seems to be behaving particularly badly .i for one am glad im out even though i lost money .i have no idea how low it will go since i dont have a crystal ball . the only thing thats positive is that it doesnt have much debt so dont think that its at any great risk of going bust .i have no intention of buying unifab but may reconsider if it goes down to 4$ a share .hope to buy back global in the 5-6$ range .just my personal opinion of course. for some reason a note i put in a couple of days ago didnt come up .i am not in the oil and gas industry but know quite a few people who are and i dont personally know anyone who is positive on unifab right now .i have no idea who sarge k is but he sure acts like an employee of unifab or a broker trying to push its stock .arh
BUY HIGH: "To: cellhigh (248 ) From: andrew r harwood Thursday, Feb 5 1998 8:40PM ET Reply # of 309 Unifab announced today that they have purchased a company in lake charles in the same line of business as them.more importantly it gives them access to deep water and will allow them to bid on bigger platforms which i would imagine are more profitable .also lake charles doesnt have quite such a tight labor market as acadiana so they should have fewer problems expanding their work force and taking on more business .lack of trained labor in acadiana in our boom here has been a significant problem for the company .anyway very significant announcement for the companies long term future .i still stand by my prediction that unifab will be between 30-40$ a share within 2 years .i just wished i had bought more than i did at the 13$ level .it was such an obvious bargain at those price .arh"
"To: Phil Harvey (305 ) From: andrew r harwood Wednesday, Apr 7 1999 1:19PM ET Reply # of 312
well i have sold out of all of my drilling stocks to take advantage of the recent price rise.this was still a loss position but less than it had been .i hope to buy back global at the 5-6range ,ocean at the 4-5range .probably will never buy back unifab unless it goes down to the 4 level .just bought a highly speculative small lafayette based oil and gas company called petroquest .have heard some really good vibes about it .symbol pque on nasdaq.it has a web site trades around 5/8to3/4 .very risky and speculative and you could loose all your money but it has just made (see website at www.petroquest.com) a good discovery in the gulf which will pay for the company in a year .a lot of other projects and plans not a lot of debt and looks if all goes well that it might be a 10 bagger .one could easily loose all ones money in it however.i put all my money from selling unifab into it and hope to get back the money ive lost in unifab .just my personal opinion of course as a private investor without an ax to grind arh”
HARWOOD is sounding more and more like a disgruntled former employee. This appears to be the only place he posts and it is always negative UFAB and Pro something else........
Emotional players appear to love UFAB at 40 but can't force themselves to BUY at the BOTTOM. That's good! I'll have a ready made customer base when I get ready to sell! >VBG<
Unifab International, Inc. (UFAB) – Research Alerts
On 04/19/99: UFAB crossed above its 50-day moving average on triple its average daily volume. If the stock continues to rise relative to its average price of the past 10 weeks, it would generally be considered a bullish sign since it suggests a stock under accumulation.
Since 03/08/99: Analysis shows that the price-to-sales ratio (PSR) of UFAB has been at least 25% below its industry's average. A PSR significantly below the industry average is one tool sometimes used to begin a search for undervalued stocks.
4/20/99: Unifab International retains #1 ranking among 24 companies (including GIFI) in the Oil Field & Machine Equipment Sector! biz.yahoo.com
4/20/99: Annual Earnings Growth Projections for the Next 5 years raised from 34.3% to 43.6% by Zacks! biz.yahoo.com IBES continues to Project Annual Earnings Growth of only 34.3%.. quicken.com
Company Press Release UNIFAB International, Inc. Announces New Contract Awards NEW IBERIA, La.--(BUSINESS WIRE)--April 20, 1999--UNIFAB INTERNATIONAL, INC. (NASDAQ: UFAB - news) and subsidiary Allen Process Systems today announced recent new contract awards of in excess of $20.5 million for projects in Egypt, Equatorial Guinea, Nigeria and the Gulf of Mexico. These projects add to the current backlog of work that, as a corporate strategy, UNIFAB has maintained at a relatively consistent level.
''This new work will solidify UNIFAB's ability to maintain and grow its work force to prepare for the inevitable turnaround that is materializing as a result of higher crude oil and natural gas prices,'' noted Dailey J. Berard, UNIFAB International Inc.'s President, CEO and Chairman of the Board. ''The combination of Allen Process Systems with UNIFAB is proving to be a powerful marketing factor with customers because the enhanced total capability of the Company enables it to bid on more complete packages. UNIFAB is bullishly optimistic for the industry because of the increased number of bid requests both domestically and internationally. Our backlog of outstanding bids submitted but not yet awarded continues to grow. We believe the recovery in crude oil and natural gas prices will allow customers to release the funds necessary to award contracts for these projects in the next two to three quarters. The weakness in worldwide drilling over the past one and one-half years has narrowed the gap between supply and demand for both crude oil and natural gas. We believe a strong recovery in drilling activity will commence before year-end.''
UNIFAB International Inc. is an industry leader in the custom fabrication of topside facilities, equipment modules and other structures used in the development and production of oil and gas reserves. In addition, the Company designs and manufactures specialized process systems, refurbishes and retrofits existing jackets and decks, provides repair, refurbishment and conversion services for oil and gas drilling rigs and performs offshore piping hook-up and platform maintenance services. The UNIFAB group of companies supports all facets of the industry from facilities located at the Ports of Iberia and Lake Charles, Louisiana. UNIFAB also has a sales and engineering office in London and sales representatives in other strategic countries worldwide. Dailey Berard serves as a commissioner on a number of committees and task forces that are working to improve training and education of the workforce in Louisiana.
"UFAB Strength or Weakness? by: UnifabTrader 482 of 482 AmberHa: " I was very impressed with the strength of the ride to 9 these last 3 days." Enjoy it while you can. On Friday volume dropped like a rock on a lower close. AmberHa: "I tried getting filled at 8 7/16 didn't make it". You are one lucky dude. When the earnings come out you will be very happy the order didn't get filled. Remember a bullish trend is distinguished by higher highs and higher lows. Plenty of room for trading. Backing off of highs with low volume is a sure indication that the short term trend between now and earnings' announcement will be down.. down...down
Until more profitable business is secured, it looks like the trading range will be 6 1/2 to 9 1/2. Time to take profits is now."
havebeen reading your post on yahoo untill the bashing started. have you made the trip to new iberia yet? sometimes little things can tell you more than charts, experts or nay-sayers. i am in n.i. at least 5-6 per monyh and always take the time to drive by the port to see how many cars are in the parking lot at both ufab and glbl. when one has the confidence in the management abilities of dailey (ufab) and dore (glbl) little things combined with tech data can tell you more about how the co. is really doing. by the way i live in lake charles and the work force is drying up here too.
I haven't visited N. Iberia or L.Charles yet. Intend to do so soon. I am concerned about your remark that; "the workforce is drying up in Lake Charles too." I assume you mean this in addition to N.Iberia.
Your observations appear to be in conflict with Berard's statement in the Apr 20th Press Release:
''This new work will solidify UNIFAB's ability to maintain and grow its work force to prepare for the inevitable turnaround that is materializing as a result of higher crude oil and natural gas prices,'' noted Dailey J. Berard, UNIFAB International Inc.'s President, CEO and Chairman of the Board. ''
What is the basis for your statement? Are you saying Mr. Berard is misinformed? TIA
I see you just became a member of SI yesterday. Welcome to the fray.
UFAB parking Lot If parking lots mean anything..... I can see UFAB's worker parking lot from my office. 2 months ago, when I moved in, their workers were off for the day at 1400 hrs. Lately, though, they have been working at least half of them until 1730, the other half longer.