r21442
01 Nov 2017
Re: LPA effect? Us PIs will be last to know
Professor Fang
01 Nov 2017
LPA effect? Rise possibly due to good trading statement from LPA? Completely different companies but similar markets. Just a thought.
Frankseluk6
04 Oct 2017
Re: New bullish note from Edison And of course their construction division 😃
Lupo di mare
04 Oct 2017
Re: New bullish note from Edison "Carclo is focusing investment on its two larger established businesses – Technical Plastics (CTP) and LED Technologies (LED)."There's a surprise.
paul1945
04 Oct 2017
Re: New bullish note from Edison Thanks for info
gretel
04 Oct 2017
New bullish note from Edison New note from Edison just out. They've now increased their price target range slightly to 182p-193p, based on 12.5p EPS this year rising to 15p PS next year.The positive tone of the report reflects my own confidence in the company. The H1 blip in CTP was just that - a blip, with H1 revenues slipping to H2 and balanced by outperformace in LEDs - and given the bullish outlook should give a good outcome for the year.Meanwhile the short and long-term prospects for both core divisions look excellent:[link] is focusing investment on its two larger established businesses – Technical Plastics (CTP) and LED Technologies (LED). Here a differentiated offer and long-term relationships with customers provide good earnings visibility and higher probability of a sustainable return. This strategy delivered strong revenue and profits growth during FY17. Despite a temporary setback at CTP during H118, which was balanced by outperformance at LED, growth appears set to continue, underpinned by contracts with blue-chip customers.""Valuation: CTP recovery to drive share price upsideWe use a P/E-based, sum-of-the-parts methodology with three sets of sample peers drawn from the medical device manufacturing (P/E of 16.1x), automotive (mean P/E of 16.4x) and aerospace (mean P/E 20.9x) sectors to reflect the diversity of Carclo’s operations. This gives an indicative valuation range of 182-193p (previously 181-191p), which is equivalent to an implied EV/EBITDA range of 8.2x-8.6x (vs peer group blended year one EV/EBITDA of 8.7x). The share price has dropped by around 13% since the AGM statement advised of short-term setbacks in the Technical Plastics division. Positive newsflow confirming the recovery in CTP should be supportive of the stock, helping to close the valuation gap."
gretel
15 Sep 2017
CAR tipped on T.M.F as follows:[link] car marketCarclo (LSE: CAR) is another specialist small-cap firm that’s no stranger to the luxury car market. I last looked at the technical plastic products supplier back in April when I rated the shares a buy. But after a mixed trading update, am I still bullish on the West Yorkshire business?In its most recent update, Carclo revealed that overall trading for the current financial year to March 2018 remains in line with expectations, with strong trading at its LED Technologies division which provides lighting for top of the range luxury cars such as Aston Martin, Lamborghini and McLaren.Technology-ledBut the Technical Plastics division had a challenging start to the financial year with new programmes being delayed and some operational challenges, which have now been largely resolved. Performance is now much improved and should be considerably better in the second half.Carclo’s share price has pulled back sharply since peaking in June, and I believe this presents investors with another opportunity to stake a claim in this exciting technology-led business. Trading on a forward P/E rating of less than 11, I think the shares are simply too cheap for bargain hunters to ignore."
paul1945
14 Sep 2017
Re: P/E of only 10.9 falling to 9.1 Thanks for info
gretel
13 Sep 2017
P/E of only 10.9 falling to 9.1 FYI here's all the latest forecasts. Consensus is 12.76p EPS this year and 15.31p EPS next year.The forecasts are nicely consistent across 5 different analysts.That's a P/E of only 10.9 falling to 9.1. And the PEG is just 0.54, making CAR extremely good value.2018 2019 Date Rec Pre-tax (£
EPS (p) DPS (p) Pre-tax (£ EPS (p) DPS (p) N+1 Singer 12-09-17 BUY 12.30 12.50 15.00 15.04 Peel Hunt 12-09-17 BUY 12.68 12.99 15.39 15.56 2.00 FinnCap 12-09-17 HOLD 12.30 12.60 14.80 15.20 Edison 07-09-17 None 12.50 12.90 14.98 15.20 3.90 Equity Development 07-09-17 None 12.36 12.80 15.02 15.50 1.50
Lupo di mare
11 Sep 2017
Re: Peel Hunt : Buy with 200p target Got to admire their conviction: a year and a half ago they were targeting 165p; then a year ago it was 170p, and now 200p.Peel Hunt, Carclo house broker.
gretel
11 Sep 2017
Peel Hunt : Buy with 200p target Peel Hunt have reiterated their Buy and 200p target for CAR:[link]
Lupo di mare
09 Sep 2017
Re: Equity Development : Buy, 200p target If it weren't for this repetition of increasing debt, and the unspecified "operational challenges", I'd consider buying at this price - having had a look at the last results.They say that debt will start to reduce by the year end. Do we take them at their word, or do we look at the Finals statement, "Our capital expenditure programme will continue into the medium term as we capitalise on a strong pipeline of new opportunities across our entire business. However, improvements in free cash flow, resulting from profits generated from recent investments, mean that future capital expenditure will begin to reduce as a proportion of our overall free cash flows."If capex doesn't ease, we're looking at significant further increases in debt, as cashflow doesn't come near to covering outgoings.That said, this is probably well priced atm; although I won't be buying - getting more cautious the older I get.As for the CEO's purchase, shame that he felt the need to make a gesture - but so small. Maybe other directors might follow his example next week.
gretel
08 Sep 2017
CEO buys £20,000 of shares Good to see the CEO buying £20,000 of CAR shares at 141.4p - I suspect this is his ISA contribution for the year....[link]
Lupo di mare
08 Sep 2017
Re: Equity Development : Buy, 200p target Anybody care to translate, "OEM platforms with typical life-spans of between 5-20 years" for me, please?
Ramptastic
08 Sep 2017
Re: Equity Development : Buy, 200p target I'm with you gretel,I see the last results as a minor blip. A more general economic slowdown would be more worrysome, although I don't know how much of CAR's business is UK centric, which might be a concern.J
