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HWDN oldjoe1 06 Nov 2015

HWDN, UPGRADE............................. HWDN Howden JoineryUPGRADE..Howden Joinery Group Plc PT Raised to GBX 570 (HWDN)November 6th, 2015.Howden Joinery Group Plc (LON:HWDN) had its target price raised by analysts at JPMorgan Chase & Co. from GBX 560 ($8.64) to GBX 570 ($8.79) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 16.02% from the stock’s current price.Howden Joinery Group Plc (LON:HWDN) opened at 491.30 on Thursday. The firm’s 50-day moving average price is GBX 471.71 and its 200-day moving average price is GBX 489.75. Howden Joinery Group Plc has a 12 month low of GBX 362.80 and a 12 month high of GBX 532.00. Other equities analysts have also recently issued reports about the company. Numis Securities Ltd reaffirmed an “add” rating and set a GBX 515 ($7.95) price target on shares of Howden Joinery Group Plc in a report on Friday, July 24th. Goodbody Stockbrokers Ltd reiterated a “buy” rating on shares of Howden Joinery Group Plc in a research report on Friday, October 30th. Beaufort Securities restated a “buy” rating on shares of Howden Joinery Group Plc in a research report on Wednesday, July 8th. Panmure Gordon lifted their target price on Howden Joinery Group Plc from GBX 490 ($7.56) to GBX 570 ($8.79) and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Berenberg Bank lifted their price target on Howden Joinery Group Plc from GBX 530 ($8.18) to GBX 570 ($8.79) and gave the company a “buy” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Howden Joinery Group Plc has a consensus rating of “Buy” and a consensus price target of GBX 537.27 ($8.29).Howden Joinery Group Plc is engaged in the production, distribution and sourcing of kitchens and joinery to trade customers. The Business offers products, including kitchen frontals, worktops, flooring and breakfast bars, cabinets and painted skirting boards. The Organization manages approximately 589 depots, which are around 10,000 square feet in size, in industrial locations. The Business sold about 3.8 million cabinets, 2.3 million joinery doors, over 2 million square feet of flooring, 870,000 worktops and breakfast bars. The Organization has operationsin Belgium, France and Great Britain.

HYNS profdoc 06 Nov 2015

The AGM Following the AGM I wrote a 1700 word report. Obviously I can't post it all here - but you may find it useful if I post some of the paragraphs here.Glen Haynes Publishing – yesterday’s AGMBoy am I glad that I doubled my holding in Haynes (LSE:HYNS) a couple of weeks ago because I got the distinct impression that this company is on the up at the AGM.As usual I hogged the largest part of the question time. After that I chatted with the key directors about the company’s position and strategy for the future. (for background see my Newsletter posts: 11th – 19th Feb, 8th-12th Oct) Firstly let me say that the people who run this company could not be more welcoming to the interested investor. They seem decent and honest, judging by their open attitude, sincerity and gentleness. In short, I do not fear a lack of integrity with regard to shareholders’ interests. For me this is a vital criteria for investment. I would have sold my today shares if I did not trust them.Second, I detected a general atmosphere of confidence. They could not be too specific because of Listing rule restrictions (i.e. avoiding giving some shareholders privileged information) in indicating why they are so optimistic, but my impression is that most excitement has been generated by the fruit that is coming from the knowledge and skill base built up in HaynesPro. The ability to supply detailed data on hundreds on vehicles to professional users can be used not only to deepen and broaden the moat around the franchise that already has 40,000 loyalists across European (e.g. 90% of the German market), but can be used in all sorts of other ways. With this in mind, they have been recruiting heavily in this area (hence the failure of staffing numbers to fall as revenue fell 20% over the last 5 years – an answer to one of my questions) so as to bring the vital computer and online capabilities in-house.This now provides a platform for extending into more services for the manual buyer or the online user of the manual. They have invested in created an unrivalled knowledge base which already has customer trust; and they have created in-house distribution methods which are right up there with the best that Silicon Valley has to offer. They can leverage this competitive advantage in so many ways – some that are only just now beginning to be revealed to them as the possibilities for new services and products come to mind.I’ll give you one example: Before the meeting I had a phone call from my youngest son who had taken to a garage a van that we use for the property developing business - the power assisted steering went phut. This was not a garage we normally use. The mechanic said this will cost quite a lot to fix. We have no idea what the normal cost would be. It would have been very useful to know the labour time and the cost of the part. HaynesPro provides this information to its subscribing mechanics already so they can price a job. It’s also useful for hire car companies and other organisations.The knowledge has already been created by HaynesPro. So, at little additional cost, it could be made available to the general public – my son would pay a few quid to know what would be a reasonable amount to fix his steering.And that is just one idea for brand and knowledge extension now that Haynes has the information base. Dividend policyA question was raised about dividend policy, and the reply was: “the dividend we have declared is our confidence in the future.” This statement contributed to my hope for the future of this firm, because what I think they are saying is that the current low dividend cover ratio will be corrected as earnings grow again when the rewards of the strategic shift that started in 2008 with the purchase of Vivid (now HaynesPro) come through.HaynesPro profitsOn the issue of profits at HaynesPro I raised a concern: I said that the accounts did not reveal whether or not HaynesPro made a profit, could the Board

HWDN oldjoe1 06 Nov 2015

HWDN..BUY and Plenty More To Come....... HWDN Howden JoineryExcellent trading update yesterday, plenty of people buying new kitchens etc etc. [link] CommentHowden Joinery managed to skirt the troubles seen elsewhere in the sector since summer and October trading was "outstanding", so the shares have scope to recover after the battering they took on the heels of Travis Perkins' warning last month, N+1 Singer told clients."Performance in H2, including the key October trading period, has been outstanding at +10% LFL particularly once positive gross margins are also factored in," N+1 Singer said.Thursday's 10% like-for-like sales figures from the company imply a two-year growth rate of about 22% and represent a substantial market outperformance, the analysts said.Furthermore, the manufacturer and supplier of fitted kitchens, appliances and joinery products should continue to avoid the deterioration in business seen by some companies in the sector "even if housing activity softens slightly given the tenuous link there vs consumer confidence and replacement cycles (still recovering)".The impact of the Living Wage should also be immaterial given Howden's bonus/salary structures.After Travis Perkins's warning, shares in Howden Joinery fell back to a price-to-earnings multiple of 16.6 versus the 20 seen at the June peak, N+1 Singer pointed out."The Free-cash-flow yield is 5% (or 6% ex deficit injections). We have edged our target price up 2% to 510p, so with >13% total shareholder return we upgrade to 'Buy' from 'Hold'."

GBO gallant02 06 Nov 2015

Re: not my fault OC, in fairness frauds are rare, but the historical debate over GBO's accounts demanded a more diligent audit approach in my opinion. Having said that there was a massive red flag when BDO withdrew because they couldn't agree the audit parameters - as we now know Costis had something to hide, he justified it on cost grounds at the time and we fell for it.Also the debate over cassh seemed stupid to me when competitors were losing $ tens of millions. Bottom line is I got in low and could have cashed out numerous times making double, treble, even quadruple my money and ignored most of my usual rules.Furthermore I have a place in Greece and keep getting screwed by them, so should really have paid heed to the old "beware Greeks bearing gifts etc".I cannot believe my short sightedness on this one and will beat myself up for a long time. I simply don't need others to do it... At the end of the day I like to support young, growing companies and will continue to do so, very selectively with the few bob that I've got left! I'm relying on OPG to bale me out, results yesterday solid as always so my one ray of sunshine in what is looking to be a dismal winter.

QPP eagle51 06 Nov 2015

Re: Meanwhile OG - you're a hoot............it's still hurting!! How much did Terry catch you for? Go on, tell us - you'll find it therapeutic. The short was good down to 0p wasn't it? You should have paid more attention when you were at school but, as they say, it's an ill wind........for every winner there has to be a loser. I'll dedicate my profits to you.

HWDN EyesonHawk2 06 Nov 2015

HWDN Hold - Beaufort Securities Howden Joinery Group (LON:HWDN) – HoldHowden yesterday reported a good sales performance to date in the second half of 2015, including during the important October trading period. In light of this, the Board stated it remains well positioned to achieve market expectations for the full year. It noted, however, that the two remaining trading months still have to be completed and together typically account for over 10% of annual revenues. Howden Joinery UK depots’ total revenue in the second half of the year to 31 October increased by 12.8% and this was achieved in the face of toughening comparators that have been seen since June. As a result, in the first 44 weeks of 2015 total revenue was up 12.0%, rising 9.3% on a same depot basis. Gross margin performance also remains in line with expectations. The Board went on to remind investors that, as part of the £70m share buyback programme announced on 25 February 2015, the Group has acquired 6.4m shares. This takes the total acquired this year to 7.2m, for which the consideration was £35m.Our view: Howden is lumped within the wider basket of UK building and residential services/distribution groups, such as Travis Perkins, Wolseley, SIG, Grafton etc. Activity levels at Tool and Equipment Hire businesses, like HSS Hire, also provide a good lead indicator for the sector. Indeed, it was HSS that provided the first warning of a surprisingly sharp and unexpected sector slowdown back in July; this was latterly followed by a rash of ‘shock-horror’ tales from a number of Howden’s peers. The net result has been a widespread sector correction which, more recently, has even spread to the mainstream UK house builders. Yet, surely times can have rarely been better for UK building materials suppliers and equipment hire groups? The public, as ever, love nothing more that adding value to their properties while prices spiral ever upwards. Surely RMI activity should be booming against a background of more relaxed planning legislation and low interest rates/energy costs, while demand-side subsidies also power new UK housebuilding as the Government aspires to lift starts as far as 250,000/year in an effort to quell growing public disquiet over the lack of affordable housing? So what could have gone wrong? One obvious tremor was felt ahead of May’s general election, when polls confidently predicted a Labour party majority; another resulted from legal change that contrived to concentrate contractor vacations during the traditionally busy August-early September period. So It is quite possible that these together resulted in the unexpected activity hiccup; it is also true that a warm and relatively dry Q4’15 could subsequently result in momentum picking up quite sharply once again. Assuming Boards across the sector seek to update shareholders of such an outcome in pre-close statements just ahead of Christmas, it would be reasonable to anticipate share prices rebounding. In the meantime, of course, they may simply tread water for the next six or seven weeks. So what about Howden itself? The shares have sharply outperformed the FTSE250 over the past year and yesterday’s relief bounce repaired much of the recent damage. Trading on 20x earning for this year and 18.2x for next while coming with only a modest yield, suggests almost everything is now in the share price. Beaufort accordingly takes its recommendation down from Buy to Hold while awaiting reassurance about activity levels during the important Nov-Dec period.SEE:[link]

UTW casabanker 06 Nov 2015

Re: UTW, To be Tipped, This weekend.? The sell off of UTW this week looks inexplicable and overdone imo. I must try and find some cash in order to top up as the level of 173 looks like a buying opportunity to me.Casa.

MIRL HPC Follower 06 Nov 2015

Re: Daryl's dodgy contract Given the information in today's RNS regarding Daryl's contract and termination as per shareholder voting, the overall position is not so clear cut in my mind now.I'm nor sure who should now be on the main Board but this clearly needs a new start and the management based in Peru, who are paid through the MIRL even if they have the gold to sell, have to start working professionally to re-earn shareholders trust. The confusion has to end...

SEA PERPETUAL OPTIMIST 06 Nov 2015

ORDER BOOK ? Proves the worth of the technology. All they need now is to refill the order books with commitment.

ZOX Cadenza 06 Nov 2015

zinc price should bounce from here on technicals testing the September low so I am looking for a higher low close followed by a move up. The September low was also the 2009 low so an important long term floor. I am tracking the ETF on IG index, chart also shows that it is oversold on RSI and stochs.

OBT 3Dimensional 06 Nov 2015

Great news again lets see how much longer the Market can hold this lil beauty back, fantastic RNS today and I cant wait for the free shares to be issued in the forestry division, I have been told combined entity will result in an SP not far from 20pGood luck 3D

SGP oldjoe1 06 Nov 2015

SGP, IC: comment...... SGP SupergroupIC: comment......Fashion chain SuperGroup (SPG) has announced strong first-half sales growth of 22.4 per cent, with like-for-like retail sales up 17.2 per cent. Those figures did benefit from weak comparatives, but also an improved operating structure. Upgrades from City analysts look likely. We remain buyers.

SYNT The buzz 06 Nov 2015

Trading Stetement It starts off very well - but end warning that the competition will be increasing in the Far East. It is not all that long ago that SYNC had reduced profit caused by over supply from competitors increasing their volumes. It will be interesting to see how the market prices its future earnings.The B

QPP Orchard Gate 06 Nov 2015

Re: Meanwhile Can't be bothered to read that lot. If you have something to say try expressing it in less than 1,000 words.

SGP oldjoe1 06 Nov 2015

Re: SGP, broker update.... Supergroup PLC 6.7% Potential Upside Indicated by Cantor FitzgeraldPosted by: Ruth Bannister 5th November 2015Supergroup PLC with EPIC/TICKER LON:SGP had its stock rating noted as ‘Retains’ with the recommendation being set at ‘BUY’ today by analysts at Cantor Fitzgerald. Supergroup PLC are listed in the Consumer Goods sector within UK Main Market. Cantor Fitzgerald have set a target price of 1600 GBX on its stock. This indicates the analyst now believes there is a potential upside of 6.7% from the opening price of 1500 GBX. Over the last 30 and 90 trading days the company share price has increased 168 points and increased 249 points respectively. Supergroup PLC LON:SGP has a 50 day moving average of 1,422.86 GBX and a 200 Day Moving Average share price is recorded at 1,224.42 GBX. The 1 year high stock price is 1598 GBX while the 52 week low for the share price is 750 GBX. There are currently 89,505,255 shares in issue with the average daily volume traded being 148,025. Market capitalisation for LON:SGP is £1,258,818,554 GBP. Supergroup PLC is a United Kingdom-based fashion retailer company, which offers clothing and accessories. The Company is the owner of the Superdry brand, which is a lifestyle brand that offers clothing, accessories, footwear and cosmetics. It operates in three segments: Retail, Wholesale and Central Cost