Hi Don,
I just happened to have answered a question on Savaria last week - here is my response:
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Savaria was on our Bull list early last year. I have since averaged into the company a number of times and now have a full position. Personally, I like the long-term prospects of the company and is well positioned to benefit from an aging population. It also provides a safe and growing dividend and is a Canadian Dividend Aristocrat.
The company has been impacted by the pandemic, but it is performing better than expectations. There has also been a silver lining for the company as 'staying at home' has increased demand for its in-home suite of products. The demand for @home is offsetting lower demand from @commerical. As of writing, the company is currently trading at discount to its five-year historical averages across most metrics (Book value, cash flow, earnings, sales, ebitda) and at 20 times forward earnings offers decent value.
After a dip in 2020, revenue and earnings are expected to growth by 10% and 24% in 2021. They company is also trading at a ~30% discount to analysts 1-year estimate of $17.57 per share. Overall, I believe this company to be a solid combination of income and growth. There is uncertainty however, as the pandemic continues to play out longer than expected, it is likely that Savaria will continue to face operational challenges and lower demand for commercial products. That being said, it has thus far performed quite well despite these headwinds.
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Nothing has really changed over the past week that would have changed my thoughts on the company.
Mat
(I am long SIS)