2024-07-24 07:54:09 ET
Summary
- 27% panic sell-off post Q1 2024 earnings, despite double-digit YoY growth in EBITDA and operating income.
- Over $500k value of shares bought by three insiders after the significant drop in share price.
- Healthy financials, with 2024 guidance indicating expectations to surpass net sales and adjusted EBITDA of 2023, despite the suspension of Dacthal sales in the US.
- Given these factors, and more that I will cover in this article, I rate the stock as a Strong Buy.
American Vanguard Corporation ( AVD ) presents a favorable buying opportunity after what I consider to be an overreaction, and a panic-driven sell-off following their Q1 2024 earnings report.
AVD has good financials, with significant double-digit growth (YoY) in their adjusted EBITDA and operating income. The insider buying activity following a 27% drop in share price, along with a major transformation initiative focused on improving operational leverage, demonstrates management's confidence in the business and the future direction of the share price
American Vanguard Corporation Business Overview
AVD is a holding company, operating through a network of subsidiaries, with a presence in 19 countries, and 5 continents around the world according to their latest 10-K annual report ....
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American Vanguard: Panic Selloff Makes Shares Attractive