Airgas might an example of a classic “broken stock, not broken company” play.
The company beat earnings estimates Friday by 3 cents per share, reporting higher margins and an increase in sales growth. Airgas also raised its quarterly dividend to 16 cents a share and maintained its full year outlook. How many other cyclical companies are doing that?
The problem, though, is that while Airgas jump almost 9% on the quarter Friday, the stock is still down 46% from Cramer’s May 8 recommendation.
So what’s going on? Why’s the stock price the same as it was in 2005? How will Airgas fare as this troubled economy continues its descent? Watch Cramer’s interview with CEO Peter McCausland to find out.
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