Carlisle Companies, Inc.

The Carlisle Companies designs, manufactures and markets products for the commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, food service, healthcare, sanitary maintenance, transportation, general industrial, protective coating, wood, specialty, automotive, and auto refinishing industries. Listed competitors are Atlas Roofing Corporation, Bridgestone Corporation, and Harvey Industries.

Future Value
My short-term (3-6 week hold) target price for the stock is $115.90, with an initial trailing stop at $105.86. My future (5 year hold) target price for the stock is $204, which is an average annual return of 18%. A prior five year hold of the stock would have returned an average of 19% per year. Please remember that any investment has the potential for loss and that past performance is no guarantee of future results.

Repatriation
The Tax Cuts and Jobs Act of 2017 provides companies that have unremitted foreign earnings from investments in foreign subsidiaries and currently hold those earnings overseas, the opportunity to repatriate those earnings by paying a one-time net charge related to the taxation of those unremitted foreign earnings. Paying the calculated charges on repatriated income can distort a companies earnings and consequently its fair value.

In the case of Carlisle Companies,Inc. the company has recorded a deferred tax liability of $7.9 million related to cash repatriation primarily related to foreign withholding taxes and does not expect the one-time repatriation tax on deferred foreign income to have a significant impact on liquidity or capital resources.

Fair Warning
SELL HALF The stock is currently trading at levels above my most recent $78 fair value estimate, but below my most recent $124 close target. Please See Linked Worksheet
Posted on 03/11/18