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October 16, 2013 at 04:43 AM EDT
ITC Holdings - Value Alert (ITC, rated SELL)
<!--[if gte mso 9]> <xml> <o:OfficeDocumentSettings> <o:DoNotRelyOnCSS /> </o:OfficeDocumentSettings> </xml> <![endif]--> <font> Texas (October 16, 2013) Wax Ink has issued a Negative Investment Interest opinion for ITC Holdings (NYSE: ITC ) based on a recent baseline equity review that placed fair value between $5-$15. </font> <font> Negative investment interest means that the current risk reward ratio does not favor investment consideration at this time. </font> <font> The recent close of $96.30 is approximately 3080% above the fair value buy target for the stock and approximately 1446% above the fair value close target for the stock. The recent close is also 4% below analysts’ twelve-month $100.00 median price target for the stock. </font> <font> The recent close represents a 26% increase in the one-year price of the stock, while year-over-year sales increased 10%, year-over-year earnings increased 5%, year-over-year debt increased 17%, and year-over-year free cash flow decreased 151%. </font> <font> The stock currently has a trailing twelve-month PE Ratio of 20, and a PEG Ratio of 1.3 basis estimated forward earnings growth of 15.5%. </font> <font> In the past 52 weeks, share prices have moved between a high of $99.33 and a low of $74.28, placing equilibrium at $89.39. </font> <font> With the recent close, the stock is trading 3% below the 52 week high, 23% above the 52 week low, and 7% above equilibrium. </font> <font> The three-month average daily trading volume for this stock is, approximately 261,000 shares. </font> <font> ITC Holdings together with its subsidiaries, engages in the transmission of electricity in the United States. </font> <font> The company's listed competitors include DTE Electric Company , Midland Cogeneration Venture ,and Wolverine Power Supply Cooperative . </font> <font> Financial information contained herein, is based on the company's most recent annual SEC filing for year ending December 31, 2012 and all prices are per share unless otherwise noted. </font> <font> Wax Ink currently has no investment position in any company mentioned in this alert. </font> <font> For use by Accredited Investors as defined under Title 17, CFR §230.500, Regulation D. </font> <font> Copyright © 2013 Wax Ink </font> <font> Wax Ink is a baseline equity research company not licensed or registered with any government agency </font> <!--[if gte mso 9]> <xml> <w:WordDocument> <w:View> Normal </w:View> <w:Zoom> 0 </w:Zoom> <w:DoNotOptimizeForBrowser /> </w:WordDocument> </xml> <![endif]-->
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