I added Hickory Tech (HTCO) to the Barchart Van Meerten Speculative portfolio. They are a diversified communications company engaged in operating four incumbent local exchange carriers (ILECs). This business consists of connecting customers to the telephone network, providing switched service and dedicated private lines, connecting customers to long distance service providers and providing many other services commonly associated with ILECs. Additionally, they undertook business start up initiatives in long distance, internet access and competitive local exchange carrier businesses.
Barchart gives this one a 96% buy signal after 17 new highs in 20 sessions including 5 in the last 5. The stock increase 7.68% last month and trades around 8.41 which is above its 50 day moving average of 7.92. The stock has a Relative Strength Index of 70.59% and is still rising.
Although Wall Street has modest projections for increases in sales and earnings the general investor sentiment on Motley Fool is positive with the CAPS members voting 49 to 3 and the All Stars voting 18 to 1 that the stock will beat the market.
Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.
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