cosmondo
20 Aug 2016
Re: Buying opportunity? Looks like Blackrock have been a big seller and that has held the price down. With 3 tranches of over 3m shares going through on Thursday, the shares can start moving up as we've seen with a near 15% rise in two days. Results due soon which I believe will show a £19m increase in debt but profits should look good so I can this share continuing to improve. If, as you say debt should reduce in the second half then it's all good.
Another Jacko
20 Aug 2016
Re: Buying opportunity? Hi again BlanketstackerI bought a few of these at about 114p for the reasons you outline. Debt should reduce in the second half and even if there is a recession in the UK there is plenty of scope for profits to fall in the UK before these start to look expensive at that price.Take a look at HSP.
Blanketstacker
10 Aug 2016
Buying opportunity? Buy below 110.PER = 6PEG = 0.54Price to book = 0.9Yield = c5%, covered x3.56% of revenue generated outside UK, meaning weak pound benefits bottom line."In line" statement last month.There is substantial debt here, but that is the way with equipment hire businesses.Seems a decent mid-term bet?
IOMINVESTCOM
14 Jul 2016
Paul Scott's view [link] (LON:LVD)Share price: 122.4p (up 6% today)No. shares: 169.9mMarket cap: £208.0m(at the time of writing, I hold a long position in this share)H1 trading update - as mentioned the other day, this is currently my favourite stock in the equipment rental sector - because the valuation seems modest, and it seems to operate in a good niche (powered access equipment), and has a sound balance sheet.Although as a friend reminded me yesterday, in a long phone call, the operational gearing for hire companies is devastating in an economic slowdown - so he's very bearish on this type of company right now. The seemingly inexorable decline in share price also suggests that there's something wrong.Despite this, Lavendon keeps churning out positive trading updates, as indeed it has done again today. H1 revenue is up 15%, driven by fleet expansion - although this has impacted margins in the short term.A fair bit of detail is given, but the upshot seems to be that they're trading in line with expectations;Given the encouraging trading performance in the first half, together with the degree of resilience provided by our international operations, the Board remains confident of making further progress during the year and delivering on its expectations for 2016."The international spread of business has clearly helped, although it does mean that debt in foreign currencies translates into a higher sterling figure.Outlook/Brexit comments;While it is too early to fully assess the wider economic implications of the UK's decision to leave the EU, we recognise the increased uncertainty in the macroeconomic outlook. We do however believe the Group remains well positioned, with over 50% of its revenues, profits and cash flows being derived from outside the UK.Should there be a pro-longed period of Sterling weakness, the Group's reported results would benefit from the translational impact on its overseas earnings which offers some mitigation should there be any adverse economic consequences on the Group arising from the UK's decision.Too early to assess, blah blah, increased uncertainty, blah blah. Who writes these things?!The geographic spread of activities seems to be a very positive thing - and that's certainly a factor which is much higher on my investment criteria these days.My opinion - the valuation looks strikingly cheap to me. I really cannot understand why this share price has been so beaten up, despite continued decent updates from the company. The market seems to be pricing in bad news, which just isn't happening, so far anyway.
gretel
14 Jul 2016
Peel Hunt : Buy with 275p target Good, solid update today.Very positive phrases used, including "the encouraging trading performance in the first half", and "the Board remains confident of making further progress during the year and delivering on its expectations for 2016."Some minor negatives like margin progression being tempered by added investment, increased debt and exceptionals, but these all reflect the continuing growtha nd confidence of the company.Nice note about the positive effect on LVD of sterling's weakness too.Peel Hunt reiterate their Buy and 275p price target:[link]
oldjoe1
20 Apr 2016
LVD, Base Breakout........... LVD LavendonBase breakout. [link]
oldjoe1
20 Apr 2016
LVD, Analyst comment......... Berenberg (who have a 230p target) analyst comment here:[link] continues to differentiate itselfEquipment rental company Lavendon (LVD) is differentiating itself through higher margins on specialist equipment.Berenberg analyst Sam England retained his ‘buy’ recommendation and target price of 230p on the shares, which rose 2.3% to 147.8p yesterday.‘Lavendon released a positive first quarter trading update last week that highlighted continued strong momentum in the business, particularly in the UK, France and the Middle East,’ he said.‘Fleet investment in 2015 has driven this acceleration, with total revenues up 13% and rental revenues up by 9% year-on-year due to increased utilisation on the enlarged fleet and mix improvements.‘We continue to believe that, while sentiment towards equipment rental companies remains mixed, Lavendon is a differentiated player in the space, benefiting from higher margins on specialised equipment, high utilisation rates and a low-cost depot estate.’ "
oldjoe1
20 Apr 2016
TRI, Potential Upside........ Trifast plc 10.3% Potential Upside Indicated by finnCapPosted by: Katherine Hargreaves 19th April 2016Trifast plc with EPIC/TICKER LON:TRI has had its stock rating noted as ‘Retains’ with the recommendation being set at ‘BUY’ today by analysts at finnCap. Trifast plc are listed in the Industrials sector within UK Main Market. finnCap have set a target price of 155 GBX on its stock. This indicates the analyst now believes there is a potential upside of 10.3% from today’s opening price of 140.5 GBX. Over the last 30 and 90 trading days the company share price has increased 16 points and increased 31.5 points respectively. Trifast plc LON:TRI has a 50 day moving average of 123.44 GBX and a 200 day moving average of 119.62 GBX. The 52 week high share price is 140.5 GBX while the 52 week low is 101.96 GBX. There are currently 116,747,852 shares in issue with the average daily volume traded being 72,946. Market capitalisation for LON:TRI is £160,236,427 GBP.
oldjoe1
20 Apr 2016
LVD, Big Potential Upside........ <b>Lavendon Group plc 55.1% Potential Upside Indicated by Berenberg</b>Posted by: Katherine Hargreaves 19th April 2016Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates’ with the recommendation being set at ‘BUY’ today by analysts at Berenberg. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Berenberg have set a target price of 230 GBX on its stock. This would imply the analyst believes there is now a potential upside of 55.1% from today’s opening price of 148.25 GBX. Over the last 30 and 90 trading days the company share price has increased 3.75 points and increased 23.25 points respectively. Lavendon Group plc LON:LVD has a 50 day moving average of 142.63 GBX and a 200 Day Moving Average share price is recorded at 153.64 GBX. The 52 week high for the share price is currently at 211.5 GBX while the year low stock price is currently 120.75 GBX. There are currently 169,711,557 shares in issue with the average daily volume traded being 318,147. Market capitalisation for LON:LVD is £251,597,202 GBP.
claude reins
20 Apr 2016
Re: continues to differentiate itself All good stuff. Now all we have to do is wait......and so far wait, and wait. Let us hope that patience is a well rewarded virtue. There are few shares where there is such disparity between the market price and the broker's consensus price for such a mature company.After that, I would have to put Strong Buy wouldnt I?
IOMINVESTCOM
20 Apr 2016
continues to differentiate itself Lavendon continues to differentiate itselfEquipment rental company Lavendon (LVD) is differentiating itself through higher margins on specialist equipment.Berenberg analyst Sam England retained his ‘buy’ recommendation and target price of 230p on the shares, which rose 2.3% to 147.8p yesterday.‘Lavendon released a positive first quarter trading update last week that highlighted continued strong momentum in the business, particularly in the UK, France and the Middle East,’ he said.‘Fleet investment in 2015 has driven this acceleration, with total revenues up 13% and rental revenues up by 9% year-on-year due to increased utilisation on the enlarged fleet and mix improvements.‘We continue to believe that, while sentiment towards equipment rental companies remains mixed, Lavendon is a differentiated player in the space, benefiting from higher margins on specialised equipment, high utilisation rates and a low-cost depot estate.’[link]
oldjoe1
19 Apr 2016
LVD, On The Brink Of A Breakout....... LVD LavendonOn the brink of a breakout from the base range pattern.[link] Group Plc engages in the business of renting powered access equipment and the supply of related products and services.It operates as a professional access rental company that provides rental powered aerial work platforms in Western Europe and the Gulf States<b><u>Valuation 2016e 2017e</u></b>P/E ratio (Price / EPS) 12,4x 11,1xCapitalization / Revenue 0,94x 0,91xEV / Revenue 1,24x 1,18xEV / EBITDA 3,65x 3,53xYield (DPS / Price) 3,95% 4,16%Price to book (Price / BVPS) 0,91x 1,69x
oldjoe1
15 Apr 2016
LVD, Massive Potential.... Lavendon Group plc 100.7% Potential Upside Indicated by Peel HuntPosted by: Katherine Hargreaves 14th April 2016Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates’ with the recommendation being set at ‘BUY’ today by analysts at Peel Hunt. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Peel Hunt have set a target price of 275 GBX on its stock. This now indicates the analyst believes there is a possible upside of 100.7% from the opening price of 137 GBX. Over the last 30 and 90 trading days the company share price has decreased 9.25 points and increased 5 points respectively. Lavendon Group plc LON:LVD has a 50 day moving average of 141.93 GBX and a 200 day moving average of 154.26 GBX. The 52 week high share price is 211.5 GBX while the 52 week low for the share price is 120.75 GBX. There are currently 169,711,599 shares in issue with the average daily volume traded being 307,235. Market capitalisation for LON:LVD is £235,899,123 GBP.
IOMINVESTCOM
14 Apr 2016
Paul Scott's view [link]
IOMINVESTCOM
10 Apr 2016
Midas Share tip The equipment hire industry has gained an unfortunate reputation for disappointment. HSS Hire has lost 65 per cent of its market value since floating in February 2015. Sadly, Speedy Hire shares have also slumped since they were recommended by Midas that same month. Even Ashtead, their much larger peer, has been affected by concerns about the outlook for the sector.Lavendon Group has been dragged down in their wake. Trading at more than 200p last June, the stock is now 133¼p. But the company is different from its listed rivals and the shares deserve to move higher.Lavendon specialises in powered access equipment – machines that enable workers to operate safely and productively at height.The company’s equipment is generally associated with helping contractors constructing huge buildings such as airports, logistics warehouses and shopping malls.But its kit is also used to install and maintain mobile phone masts and wind turbines, clean high buildings, film events including the Abu Dhabi Grand Prix, and even renovate old structures and buildings such as Clifton Suspension Bridge in Bristol, Cologne cathedral and the Louvre in Paris.Specialising in one, rather technical area of the equipment hire market has advantages. It means Lavendon can develop relationships with top-tier construction firms, such as Balfour Beatty, Skanska and Laing O’Rourke, providing not just equipment but advice on how to use it most effectively. The group also prides itself on safety innovations, such as systems that prevent workers being crushed if they become disoriented at height and press the wrong buttons – a mistake that has cost several lives in the past.Half of Lavendon’s business comes from the UK, with the rest split between the Middle East and the Continent. Investors have expressed concerns on three fronts. First, they worry that the UK economy is slowing down. Then they worry that the Continent is stagnant and Lavendon’s German business in particular is falling behind.Finally, they worry that tumbling oil prices are affecting business in the Middle East, especially Saudi Arabia.Chief executive Don Kenny has answers on all fronts. In the UK, where the group has a 30 per cent share of the powered access equipment market, revenues fell by 1 per cent last year, but profits grew as the business improved its fleet, raised prices and developed its consultancy arm.Revenues began to pick up in the fourth quarter and have continued to do so in 2016, despite worries about economic growth. The group’s German division was a poor performer last year, but the management has been changed and more salespeople have been hired to turn the business round.And in the Middle East, Lavendon increased its revenues by 7 per cent, with growth in the UAE, Kuwait, Qatar and Oman offsetting a decline in Saudi Arabia. The Middle East is extremely profitable for Lavendon, too, and the long-term outlook is good.Qatar alone has a £95 billion infrastructure programme over the next few years, of which the World Cup accounts for just £2 billion. Across the region, there are extensive construction plans and a growing realisation that powered access equipment can be safer and more productive than ladders and scaffolding.Lavendon’s results for 2015 were above expectations and a first-quarter trading update this week should strike a confident note. Brokers forecast a 4 per cent rise in 2016 pre-tax profits to £40.1 million, with stronger growth in 2017. The group is paying a 5.4p dividend for 2015, expected to rise to about 5.8p this year.Midas verdict: Lavendon is suffering by association with the wider equipment rental sector, but it is more specialised than its peers and has a six-year record of profit and dividend growth. At 133¼p, the shares are worth tucking away.Traded on: Main market Ticker: LVD Contact: lavendongroup.com or 01455 558874k[link]
