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New Managers Can Spur Breakouts.(A)(INVESTOR'S CORNER)
Byline: CHRISTINA WISE
Gtech Holdings' stock has climbed more than 60% since Howard Cohen took over as chief executive in March. On Oct. 26, the online lottery operator broke out of a new base and is up 15%.
Its earnings have also rebounded. Analysts surveyed by First Call expect profit per share to rise 31% during the current fiscal year, which ends in February. Not bad compared with the 12% decrease over the last fiscal year.
Such turnarounds often go hand in hand with management changes. Sometimes, new blood is just what a company -- and its investors -- need.
That's why the "N" in the CAN SLIM investment strategy stands for "new." (See William O'Neil's book "How To Make Money In Stocks" for more on CAN SLIM.) It can take many forms: new products, new services, new manufacturing techniques and new blood -- in the form of new managers.
Consider Steris, which makes sterilizing systems for the health, science and food industries. When CEO Les Vinney took the helm of the Ohio-based company in July 2000 1, its stock was languishing at around 8 a share. That was a quarter of the level it had reached two years earlier.
What's more, after at least seven straight years of growth, Steris had seen ...
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