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TTC: Near Term Earnings Upside Appears Priced In, Still Favor Long BGG/Short TTC

February 17th, 2011

TTC reported 1Q11 results today that were well above consensus expectations.  You can read the full release here.  Despite the large upside delivered for 1Q11, the upward revision to FY11 guidance, and communication of a FY14 operating...

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BGG: 2Q11 Earnings Not As Impressive As Headline Results Suggest, Waiting for Signs of Spring

January 28th, 2011

BGG reported 2Q11 results that we would characterize as far less impressive as the headline numbers would suggest.  In general, it appears that relatively strong demand in Australia and Asia combined with slightly earlier...

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BGG: Survey Results from Outdoor Power Equipment Dealers and 2Q11 Preview

January 26th, 2011

We have been recommending a pair trade: long BGG/short TTC for approximately three months.  Thus far the trade has not been a winner, generating a modest loss (-0.3%) compared to a whopping 21.3% gain for the S&P 500.  As a reminder, the...

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BGG: Channel Sell Through Slowed Over Past 3-Months, but Earnings Upside for the Quarter Still Seems Likely

October 19th, 2010

We have been recommending a pair trade: long BGG/short TTC for approximately three months.  Thus far the trade has not been a winner, generating a (-4.7%) return compared to a 9.4% gain for the S&P 500.  As...

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TTC: Large 3Q10 Beat As Expected, Guides Inline, Headwinds Should Start to Emerge in FY11, Still Favor Long BGG/Short...

August 19th, 2010

TTC reported strong 3Q10 result this morning,  you can read the full release here.  On the heels of BGG's blow-out numbers, it should come as no surprise that TTC delivered significant upside to...

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BGG: Replacement Driven Demand, Monster FCF Highlight Strong 4Q10, Still Favor Long BGG, Short TTC

August 12th, 2010

We recently introduced a pair trade idea: long BGG/short TTC.  Thus far the trade has returned 2.1% compared to a 2.3% gain for the S&P 500.  We still think the pair trade has the potential to generate a total...

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Closing out BGG and TTC Shorts with 21.2% and 7.3% Gains, Going Long BGG Against Short Position in TTC

July 19th, 2010

Approximately three months ago we introduced two short ideas in the outdoor power equipment space: BGG and TTC.  Since that time shares of BGG have sold off 21.2%, while those of TTC have declined 7.3% compared to a...

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Current Ideas

EXPI

SELL/SHORT

$4

HUSQ.B

SELL

$50

UFPI

SELL/SHORT

$45

TREX

SHORT

$18

PRDO

SELL/SHORT

$5

STRA

SELL/SHORT

$42

CWH

LONG

$75

OSTK

LONG

$128

CM

SELL/SHORT

$50

RY

SELL/SHORT

$50

ARC

LONG

$5.50

AYI

SHORT

$50

BIG

SHORT

$28

WWE

LONG

$65

XOXO

LONG

$37

RLGY

PAIR TRADE

$10

RDFN

PAIR TRADE

$30

BCO

LONG

$35

ING.PA

SHORT

$35

TRUP

SELL/SHORT

$10

CTC

SHORT

$101

ATGE

SHORT

$15

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

SHORT

$14.00

NA.TO

SHORT

$22

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

KNL

PAIR - LONG KNL/SHORT MLHR

25%

CSGP

SHORT

$100

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR