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Below is a list of today's twenty-five most distressed stocks (according to their Altman Z-Score or Z''-Score, respectively) with a share price of $5 or higher. For details on how this ranking list is compiled, please click here.
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TXI - Adding this to the watch list
TXI manufactures cement and concrete, primarily serving markets in TX and CA ( http://www.txi.com/TXI... ). The continued weakness in real estate should be a macro headwind for it. Additionally, it has a Z-score in the distress zone and looks weak technically as well ( http://www.google.com/... ).
Wondering what our resident technician has to say about that chart. Wait for a ~10% bounce, or bet against it here?
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I respectfully disagree. Cement and concrete manufacturer market share is driven much more by construction and repair of roads.
Those shovel-ready TARP projects are prime for cement.
It bears mentioning that cement and concrete are highly superior materials to asphalt. However, you need to validate TXI's commitment and budget around state-level lobbying. These are the decisionmakers who choose who the state-wide vendors are.
The company does note its infrastructure work. And it might get to lay some pavement in TX. But getting enviro approval in CA has to be a bear.