At 40 cents in 2008 it got down to a P/E of as low as 2 before bouncing back. But that was after 3 price downgrades, disclosure issues and a whole range of other factors
2 years later it was over $10 with some cut throat competition still in play.
Now they have acquired some of that competition and will no doubt be eyeing CLH. Quite clever of CLH to request a suspension extension until the 20th of April. CCP is a higher quality business than in 2008.
Today the PE got as low as 5 before bouncing back to 7. If you believe that this may mirror the gfc collapse then $5 is a good entry point. If you think that this has been drastically overplayed than it may already be too late to enter.
CCP Price at posting:
$10.11 Sentiment: Buy Disclosure: Held
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