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Yep…. Good day….. it’s a pity the broker downgraded this last week… I thought a nice steady climb to £15 was nailed…. I still see plenty of value here and it does move quick…. Both ways……..so it’s still very fragile and there are a lot of folk with £9 shares who will get off the bus as quick as they got on it…..B
You're welcome Woodstock, good to see it moving up steadily throughout the day.
IanBowmer. Thankyou for pointing that out. I should have been more mindful.
Regards
I beg to differ, the rest of the market today is down the pan, and we are 4th on the FT all share risers board. If this RNS was released on a different day, it would probably be 5% up.
Well the market doesn't appear impressed with todays Rns.
Hopefully, this will help strengthen the SP....
LAUNCH OF SHARE BUYBACK PROGRAMME
Avon Protection plc ("Avon Protection" or the "Group") is pleased to announce that it intends to commence a share buyback programme in respect of its ordinary shares of £1 each ("Ordinary Shares") up to a maximum consideration of £18.5 million (U.S. $25 million), from the date of this announcement (the "Share Buyback Programme").
The purpose of the Share Buyback Programme is to reduce the share capital of the Group in order to return value to shareholders.
Watching this share like a hawk.
I think I have director buy and sell positions wrong.
Gla.
Sorry company directors bought @ £20.
Rusty. I am sorry you are sat on a considerate loss. Its worth noting some of the company bought at £20. The general consensus of analysts on Wall Street is hold.
We could be in for a topsy turvey ride next week. All eyes are on the federal reserve. An interest rate increase is probable. Such a move by the federal reserve would blow a hole in the bull market bubble. That's a polite way of saying the Dow is about to crash. The longer the federal reserve hold back, the bigger the fall.
Personally I see Avon as a good war stock.
Regards
As above I am 47% down. Do I just wait and see what happens next?
Thanks Rag I like the bit at the bottom
Our reset capped DCF valuation returns a fair value of £16.75 or $22.78 per share.
Ragner. Your last post pretty much settled what I was thinking. Thanks very much.
Sentiment around Avon is extremely weak so doesn't take much to make investors scatter. It feels like a decent recovery play with the difficult decisions made by the board and prospects for the remainder of the business but the 'medium term' horizon is too long for most investors
Ragnar. Totally agree. I have yet to come across any broker target that has been remotely accurate. Like you say some brokers sit on a fence.
thanks rag....... I am surprised anyone has taken such interest in the downgrade......but considering this was knocking on the door of £12 on Monday, it seems to now be knocking on the door of £10 due to Berenberg intervention.........This stock has started to feel very much like an AIM share at the moment.........Thought Defence stocks were supposed to be boring...... perhaps the BoD should take note........Need some good news here to get a spring in the step....B
New target is 1120p. 1740 was from August last year. I also don't think much of broker targets, if they were any use they would have marked it down before the SP tanked. What's the point of tracking the SP down after the fact?
apologies...... that was there Aug note..... B
rag, I think you will find the actual note said:
"Analysts at Berenberg slashed their target price on safety equipment supplier Avon Protection from 2,955.0p to 1,740.0p on Thursday after the group cut its full-year guidance by roughly 40%"
so feels like lots of upside for this dogs balls.....
B
Unfortunately I agree with Berenberg however anyone stranded above £12 should hold imop. I must add that I am not that keen on broker targets period.
Looks like yesterday was due to "Berenberg cuts target price to 1120p from 1740p"
52000 sells over 39000 buys Yrabsmurruc.
Atb
Looking at the charts it looks like the stock has outperformed. I am trading between £8 and £12 for now . We still have strong sales and a relatively a low market cap.
I can understand why AWest is hacked off, because of whats happened in recent weeks.