Buyers have exceeded sellers by big margins since results announced. Assume MMs will need to 'flush out' more sellers by further price rises.
RE: I am buying more
Agreed. Capable management who will increasingly delight shareholders.
I am buying more
These are going to be back in 20 to 24p range by the autumn. Good solid company now.
600 Group PLC (LON:SIXH)‘s stock had its “corporate” rating reissued by research analysts at FinnCap in a report released on Wednesday, Analyst Ratings.Net reports. They currently have a GBX 27 ($0.42) target price on the stock. FinnCap’s target price would indicate a potential upside of 62.41% from the stock’s previous close.
18 May '15
Recovery play in motion now, some new appointments and so will monitor to see what happens.
4 May '15
The one that really caught my eye was the somewhat surprising news from Engineering Company SIX HUNDRED GROUP, that it had parted company with its CEO Nigel Rogers. The news accompanied a Trading Update which stated that underlying trading in the year to 28 March 2015 was in line with expectations. It was also added, that the pre-tax profit is expected to be more than £3m which is more than the £2.1m previously pencilled in by Broker FinnCap. No doubt though, that anticipated figure will be flattered by the pension surplus as in previous periods, so it is worth anyone looking at the potential earnings per share baring that in mind. As for the CEO’s departure, there was no indication as to why Rogers has resigned and moved on, although David Buxton the FinnCap analyst apparently pointed out, that having been there since 2012 the CEO had done a good job in turning the group around. I wouldn’t disagree with that view, having spoken the Nigel Rogers on a few occasions I found him very engaging and pretty passionate about the business, so I am sure holders may also be sorry to see his departure. Paul Dupee, the non- executive Chairman who is also managing partner of Haddeo which holds around 25% of Six Hundred will now assume the role of executive Chairman, overseeing the various divisions. FinnCap has retained a 27p target price, citing the apparent value on offer within the current valuation, where the shares sit at 16p. While that may well be the case and as one who has covered Six Hundred a few times now along with holding the shares, I should perhaps be bullish. However for me, it is what the resignation does not say, combined with what also appeared a previously odd stake taken in ProPhotonix last year. On that basis, although I will keep an eye on the shares, the suddenness of the resignation and lack of an explanation is from an investment perspective, just a bit off putting for me.
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