Mar. 3 at 8:59 PM
$CPS Stuck in a structural "no man's" land. Only Blackrock and Vanguard total market ETFs selling shares and market makers taking out limit orders. Hedge fund, quant, passive ETF, and "long term" institutional flows are completely missing. Despite the last two upgrades to
$57 and
$61, there is still too much career risk for the sell side to upgrade before the stock price moves. With a net debt/EBITDA of 3.2x on 5.0x to 5.5x EV/EBITDA and a 20% 4 year EBITDA CAGR with a low float, the market structure keeping this pinned down could easily reverse.
