CIX - CompX International: Sales Drop In 2024 Could Create Buying Opportunities
2024-07-02 04:05:58 ET
Summary
- I put a HOLD rating on CompX International stock because although I think the company will experience long-term growth, 2024 should provide investors with better bargains on this stock.
- The conclusion of a pilot project with USPS and downward trends in marine component sales should contribute to a negative outlook for the company's sales.
- Comp X International's stock is currently priced fairly.
I am placing a HOLD rating on CompX International Inc. ( CIX ) because I believe that CIX's share price is likely to fall in 2024 due to the conclusion of a pilot project related to the company selling security products to the United States Postal Service as well as a continued downward trend in its marine component sales. While CIX has proven itself to be a well run business which should continue to prosper on a long-term horizon, a decrease in CIX's sales figures should give potential buyers of this stock a better buy opportunity in the near future.