Sell North American Galvanizing (NGA)
NGA – North American Galvanizing (Nasdaq) – (Closing Price – 5.45)
North American Galvanizing & Coatings is down quite a bit since I originally recommended it and I am going to recommend to sell.
A competitor of NGA, Azz Incorporated (AZZ) reported their third quarter results on Jan. 4 and reported a sequential decrease in revenue and operating income for their galvanizing segment. Consequently, due to the weak market and the potential for an earnings let down in the coming quarter I think it is best just to sell North American Galvanizing and take a loss.
Disclaimer: I have no position in NGA.
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