P/E propped up by abnormal outperformance occuring over the past 12 months, and the stock more than doubling in that period. The price is fair considering their track record but by no means cheap and among the most expensive in terms of similar companies in the industry.
A year ago the stock was $25, today it's $49.28. It peaked at roughly $60. Its a $9 billion market cap blue chip stock at this point. Its not dropping like a rock by any sense of the word. As long as you weren't crazy enough to buy above $55 you'd be laughing at this point.
MFG Price at posting:
$49.28 Sentiment: Hold Disclosure: Held
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