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Yep. Opened at 190p on IPO.
This share has not increased a penny (in fact it's declined) since its IPO in October 2015. Private equity did another number on us, it seems.
...and forgot to mention broker forecasts all appear to corroborate this with bullish forecasts, averaging at around at least 30% above current SP
target should be around 240
Does not make sense - we know they have sited their production near to clay pits, supply should not be - everyone had trouble with lorry drivers but really their is nothing to hold this back. The company have done well to mitigate covid, they are now back open for business, and have been for some time, and have an imaginative plan for the future including a brand new eco factory to come on line in a year or two
IMO market sentiment paints this co with the same brush sometimes - quite undeserved and traders are working the cyclical nature of the SP is this not ready for an upswing?
Unfortunately, HillSeeker, that doesn't tally with Ibstock's excuse for its constantly falling SP being supply issues. This was one of HL's "ones to watch" for 2021 and we watched it alright - all the way down.
completely oversold, again - the more chaos and disruption abroad and the greater the impediments to distribution services, the more likely our builders will be buying home-grown bricks
buy-the-dips
They do not seem to be fussed about energy costs moving forward.
@ Crimson - I agree, this is a good one for the SIPP. they are forward looking and are investing in eco build materials which come on line in 2023 I think.
"As such, the Board believes that the Group has a clear path to deliver strong shareholder returns into the longer term."
Yes - Debt reduction very, very impressive.
Got to 211 early on then fell back due to general market jitters. Something LaGarde said probably. Anyway good strong results for Q4 and debt reduced. Looking positive going forward. Can't see demand falling any time soon. SP should be a lot higher.
Ticking over very nicely. Good update. Always good to be above expectations. Wouldn’t be surprised to see ii’s further increasing their stakes.
The net debt reduction is a major piece of news. Decent trading update. £2.10 ish SP today i reckon
That's why I have put a big chunk of my portfolio in Ibstock. Its not going to give me a rapid return, but in the long run the future of my investment is looking better and better. Now, off to Boohoo for a risky, quick return .... if im lucky .
Bet they were Michelmersh bricks? Vastly superior brand. Mbh if you want a flutter haha!
209p. Decent recent rise. Economy re-opening?
Were they Ibstoc bricks ....... hope so
Just seen huge quantities of bricks being delivered over past few days to a major domestic building site , so have high hopes of a good share price rise in the near future if this pattern continues.
Agree with you Crimson. Products in demand, paying a dividend, and the director buy was iceing on the cake. Fully expect this to go well in the New Year and i'm confident it will start pushing some of it's old highs . Long term hold for me.
Nice to see a Director buy today. I see this as a good steady holding for the next few years.
Around 80 percent of their energy requirements are hedged for 2022.
New more advanced factory's are being invested in.
They appear to be looking to the future.
The SP is down because of COVID (but fundamentals recovered well) and now it may sink further because of the upcoming energy crisis. Leccy prices are going through the roof making manufacturing the bricks very expensive. My concern is that prices could increase 5 fold for the leccy and those costs will need to be passed onto the customer. Good thing is though, the bricks are still needed and sourcing the bricks from EU will not help due to the high cost of leccy there and the shipping bill to move bricks hundreds of miles. Not cost effective. Either way, it depends on how management react to all of this.
HL are, too all intents and purposes a fund supermarket that specialise in peddling open-ended pooled investments. Insofar as their analysis of equities goes, it is for the most part poor, but it is not really their area of expertise.
I have already disclosed that my holding in IBST is underwater, yet all the evidence SHOULD point to a rising share price based on what has been reported in the press, so something is wrong somewhere, but I am struggling to discover it. Now, I have no inside knowledge and my only interest is based on the balance sheet and P/L accounts so there has to be something that is either buried in the notes or I have overlooked.
New builds sold in droves last year and even those in my local area (Shropshire/Herefordshire/Radnorshire border) were snapped up in the days and weeks of release. So I look at the chart for a little guidence on future direction. It is just going sideways since its precipitous fall in 2020. At least at this time of the year, I am able to take a leisured look at all my holdings so that I can get rid of the dead wood and trim back the leggy stuff. Just from the bald numbers, the SP has dropped 17% since August and, no matter what sort of greenwashing is spewed out by the current set of managers, this is a company that is either ripe for takeover or needs a kick up the backside to breath some life into the share price.
Bricks are not innovative. Houses are getting smaller. it should not be too difficult to work out the number of bricks sold to each major housebuilder and use that to establish pricing based on their average house sale. And although one builder might have an average £700,000 selling price, others might be at £300,000. Without an outside skin.....
SFH300, same, they are useless.
And this morning their entire site is down - unable to get live prices or trade online and (of course) no one's picking up the phone...
Unhooked - I'm inclined to agree. This time last year HL were touting ISBT as one of their top five for growth in 2021, due as you say to a strong building environment. I made the mistake of listening to them.
I don't know about you gents, but Ibstock has been a poor investment for me.
When I think the share price was £3.00 back in March 2018, I'd certainly want more than £2.45 for a company selling bricks into a strong housing market. If that JPM target is correct, it's only represents a 25% uplift from today's price, which hardly making Ibstock a bargain in today's market when you look around...
These broker targets are all over the place, especially at the moment, take them with a generous pinch of salt.
Not just JP Morgan. Six analysts have rated this stock with either hold or buy - target price above 240 on average:
"Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of GBX 245.83 ($3.21)."
Full article here:
https://etfdailynews.com/news/ibstock-lonibst-stock-passes-below-50-day-moving-average-of-203-19/