Conrad Industries Hits New High ($CNRD)

Conrad peaked during the last cycle at $17.59 in September 2007. At that point, the diluted share count was approximately ~7.3 million for a market capitalization of $128.4 million (higher than today!).

Book value at the end of 2007 was $43.5 million, for a P/B of 2.95x.

Adjusted for the recent special dividend, book value today is probably equal to or greater than $92 million versus the current market cap of roughly $110 million (a P/B of under 1.2x).

The stock is much cheaper now than it was in 2007 based on book value, trailing EBITDA, and trailing net income multiples.