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Local depot busy. BUY
<b>Howden Joinery Group Plc’s “Buy” Rating Reaffirmed at Panmure Gordon (HWDN) November 6th, 2015 -</b> Panmure Gordon reissued their buy rating on shares of Howden Joinery Group Plc (LON:HWDN) in a research report released on Thursday morning, MarketBeat reports. The brokerage currently has a GBX 570 ($8.79) price objective on the stock. Several other research firms have also recently commented on HWDN. N+1 Singer reaffirmed a hold rating and issued a GBX 500 ($7.71) price objective on shares of Howden Joinery Group Plc in a research note on Friday, July 17th. Goodbody Stockbrokers Ltd reissued a buy rating and issued a GBX 575 ($8.87) target price on shares of Howden Joinery Group Plc in a research report on Thursday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Howden Joinery Group Plc from GBX 520 ($8.02) to GBX 560 ($8.64) and gave the stock an overweight rating in a report on Thursday, July 23rd. Beaufort Securities reiterated a buy rating on shares of Howden Joinery Group Plc in a research note on Wednesday, July 8th. Finally, Liberum Capital reissued a buy rating and issued a GBX 540 ($8.33) price target on shares of Howden Joinery Group Plc in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a hold rating and nine have given 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 (LON:HWDN) opened at 491.30 on Thursday. Howden Joinery Group Plc has a 52 week low of GBX 362.80 and a 52 week high of GBX 532.00. The company’s 50 day moving average is GBX 471.71 and its 200 day moving average is GBX 489.75. Howden Joinery Group Plc is engaged in the fabrication, distribution and sourcing to commerce customers of kitchens and joinery. The Business offers products, like flooring, worktops and breakfast bars, cabinets, kitchen frontals and painted skirting boards. The Organization manages approximately 589 depots, which are around 10,000 square feet in size, in industrial locations. The Company sold approximately 3.8 million cabinets, 2.3 million joinery doors, over 2 million square feet of flooring, 870,000 worktops and breakfast bars. The Business has operations in Belgium, France and Uk
HWDN Howden Joinery <b>UPGRADE..Howden Joinery Group Plc PT Raised to GBX 570 (HWDN) November 6th, 2015.</b> 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.
HWDN Howden Joinery Excellent trading update yesterday, plenty of people buying new kitchens etc etc. http://www.investegate.co.uk/howden-joinery-grp--hwdn-/rns/trading-statement/201511050700056066E/ http://content.screencast.com/users/marketsniper/folders/Default/media/4e8cc5f7-1ba2-461b-9008-e6bf3890e01f/hwdn%201.jpg <u>Broker Comment</u> <b><i>Howden 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'."</b></i>
Visited my two local depots this week. My customers love their kitchens and all feel they have good value for money. Depots busy,excellent service and I make a good margin. More than does it for me. BUY
HWDN have been buying back thier own shares and by my calculation buying 200,000 shares a day they should have amassed 8.5m shares or 1.3% of the total shares (651m) Strangely the market price has not responded to this.
Howden Joinery falls on cost concerns: Howden Joinery is enjoying strong trading as a U.K. housing market recovery boosts home improvements, but rising costs took the shine off results sending shares more than 8% lower. The kitchen specialist has benefited from people who can’t move up the housing ladder, deciding to stay put and upgrade their existing home. Sales increased by 11% to £483 million during the 24 weeks to June 13 when compared to the same period last year. It was a strong sales performance but investors were more concerned by rising costs eating into profits. Costs were up £28.8 million, or 13%, to £246.6 million, increasing at a higher rate than sales. The FTSE 250-listed kitchen and joinery group is still a successful and growing company. Shares in Howden Joinery have enjoyed a fantastic run, soaring from lows of 13p in early 2009. The shares are now trading on 20 times the forecast earnings per share. Market consensus is for full year The impact rising interest rates on the housing market and consumers is unknown. As an investor, Questor would resisting buying at these prices. Howden Joinery at 474.8p-43.2p. Questor says “Hold”.
over done given that pretax profits "slightly' missed market expectations
I agree that Howden has a high price. However what were the brokers expecting? They are growing in a sustainable rather than a boom and bust. The market seams to demand redulous increases in profits that only come with over expansion. One thing that only fools do in the construction industry.. I want them to do exactly as they are doing. Open a few depots each year, mature the ones they have. Gently increase profits year by year.
Sorry guys the figures match my observations of three depots I see in my areas.Good turnover growth . Good profit margin and growth. Good plans for expansion.Dividends growing. I think the latest broker forecasts have got it right. BUY BUY BUY
Totally agree with the last thread about no longer being competitive. In my location Magnet, Benchmarx and even independent merchants are taking a slice of the cake. Just ask a general builder/ Joiner - Howdens is no longer top of their list regarding purchasing Kitchen and joinery items. The word greed is used along with being uncompetitive. Alongside this they are starting to lose staff who are unable to compete in the manner of a few years ago. I sold my shares at the £5.00 mark when I started to pick up on these messages. They are still a major power and player due to the number of branches they have, and could still tweak their price list to remain competitive. I will not invest again until I pick up on improved news, also my local branch is no way near as busy as it was.
Hi Guys i dont hold here but i am in the trade and just to let you know that i used to spend around 5K a month here, but i have taken the desicsion to stop using them as they are pricing themselves out of the market and there is strong talk from people i talk to that they also feel that they are becoming very expensive now. Magnets are undercutting them by 50% in some cases!! An example i needed a letterbox in Screwfix as joe bloggs i could walk in and purchase it for around a tenner give or taka a few pennies? i went in to my local branch of Howdens and for the exact same product with my account holding discount of 65% the best price to me in the trasde was £11 give or take a few pennied!!!! like i said that was just an example and a lot of people have had enough and are walking away? just a heads up from the other end
My local depot is very busy today. Latest brokers forecasts around 600p.Still a strong BUY for me ahead of tomorrow.
No Special Div here, but there has been a nice rise in divs along with the sp, from 0.5p for 2011 to 8.4p for y/e 2014. ATB.
Thanx for the reply Bonz. The income is 1.23% more than my others lol. Wasn't there a special divi this year? Not sure unless I read back thro RNS' again.
With a yield of only 1.23% doubt many are here for the income. Some of us are around from the early days of MFI, others will have climbed onboard as things started to improve with the name change to Howdens. There was a time a few years back with the MFI/Galiform sp languishing at 15p that these were confined to my 'waiting for a miracle drawer', now it's a very different story. Will the sp rise any further, very possibly, but doubt we will see the sort of growth we have seen over the last 3 years, another 300% rise in the next 3 years would see this over £20 - very nice if it happens!! A good company with some great products, just don't let the list price put you off buying from them - though you will need to do so via your builder as they are trade only. ATB.
You appear to have looked in on a day when LSE was suffering from a few gremlins. Very often it appears that no-one has ever visited a board, but wait a few hours for things to sort themselves out and you will see that some of us have been around here for years, so welcome aboard. ATB.
I was tipped this a few months back, but only just released funds to buy. This has been steadily climbing, I presume partly due to the increase in depots to be opened. What sort of sp are people looking for here? or is it the income people are here for? Thanks in advance for any replies.
Thoughts may be on interest to others taking a look. http://www.privatepunter.co.uk/Companies/homing-in-on-the-kitchen-14-july-2015
Ladies and Gentlemen It is both an honour and a privilege to christen this BB and to invite any would be joiners out there to, er um, join me on this board. To discuss....um, joinery. I ty.
This has indeed come a long way from the MFI and Galiform days, with the sp languishing at 15p at the end of 2008!! So glad I kept them. ATB.
Well done Howdens, great job! Now for the dividend, and more good growth ahead. A shining star in my modest portfolio!
I don't think so. I've had two Howdens kitchens, and won't hesitate to buy a third. A quick review of the SP over the last five years should show you that this is no cheapskate outfit. Don't let list price fool you! And don't forget, none of the supermarkets are selling at list, so long as the customer has a loyalty card. Spend £60, get £12 off, plus 10p/litre fuel coupons, etc., etc.
Yes, a shared choice, and in this case, a happy choice for both, it appears! I'll be sticking with this one, provided the mgmt team is not unduly disturbed, I'll stick with HWDN. I think Mark Robson is well-positioned to take the reins from Mathew Ingle, when the time comes, and I'd guess that's not too far away now that HWDN has blasted through the £1 billion sales barrier. There was talk of a take-over bid from Travis Perkins a while ago, but that came to nothing: then TP opened a few Howdens-type stores & poached a few of the HWDN managers, signalling either serious competition or a take-over, but that seemingly came to nothing also. Any take-over bid for this business nowadays would make for an interesting ride for holders of this share! Good luck with this one, and let's hope the SL return to shareholders does no damage to the revised sp. I don't think it will. Cheers.
Seems like we have more than SL in common. Have held these since they were floated way back when as MFI - did nothing. Change of name to Galiform - still did nothing. Languished for years at 100p or less, but I'm not known for selling so just hung on waiting for a miracle. Now under the guise of Howden they are going from strength to strength.....surely 500p can't be too far away?