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Couldn't agree more. The fundamentals to this company are excellent. I'm a FD and I've studied the financials and I can only see upside. However, the stock market tends to be an emotional rollercoaster during these times. Buy, lock in and come back in two years time.
I have been in and out of this stock for several years, it is an excellent, well run company, just going through tough times for obvious reasons currently, once were through this uncertainty and life kind of gets back to normal, this stock will no doubt ( I am personally VERY positive ) that this will be back up in the £6+ range as it was just recently - Invest, and hold for safe, significant gains / returns in the near / mid future. I have too been purchasing on the recent lows, and will continue to do so if this continues to drop lower, there is significant upside to the future of this Company and share price, but will not get there overnight in the current climate - patience is key here, will come good soon......
I tend to agree, think this could drop lower though. Will be hoovering the drops.
It does not matter which airlines can survive because, regardless of who by then owns the planes, once they start flying Meggitt will earn money from them.
1st Quarter results due in 3 days and share dropping? Prelude to a worse than expected trading performance?
At the moment shares are up & down like a hookers knickers. The only people making at the moment are big volume share buyers. Therese shares will be back trading at at least £4 or £5 by September
Not sure what prompted the 5% drop?
Buy them now you won’t get another chance at this price. A big contract worth over £50m has been signed. Don’t say I didn’t tell you.
The SP will go back soon after virus is beaten, its a solid well run business.
Invested here, had a good review of the company and seems to be on a solid footing.
I just bought in too and it is refreshingly quiet here, unlike other bbs covering some of my other 'more extravagant' investments!
Meggitt's share price was shredded, losing 58% in the five weeks following that market collapse in late February.
But the business fundamentals look rock solid to me so I'm in for the bounce back to something more like mid February levels.
What about you other Newbies?
I bought in a about a fortnight ago, a very small punt but figured it was worth it. Yup, its a very quiet board this one considering the raise potential of this share
Bought some on Friday...and agree I dont understand the lack of chat...
This is one of the shares I am considering investing in. Any reason there is almost no share chat?
Surprised at the lack of activity here. CEO has been buying shares on the downswing, quite a few contracts won or renewed in recent weeks, and the shares have bounced strongly with momentum from a -70% slide.
Not heard anything, myself, i bailed out on the 25th July at £5.71.
This has been a great share for me but it was starting to look a little toppy, so i took my profit.
It will remain on my watchlist and i'll buy back in if it falls back towards £5.00.
A well run company, IMHO.
Has anyone on here heard the rumour in terms of a Takeover / Buyout at all? - if anyone has any updates, please can they kindly share?..... Thank you.
Since dropping out of the FTSE100 a couple years ago - this company has just got on with business. Received and reinvested the latest div - whats not to like.
So many chats have summarised things well. Mggt are locked into many long term contracts that are crucial to western world security. They are currently undervalued and in my opinion remain a major BUY! Also as previously mentioned they may become a takeover target.
I have just found this site while investigating this morning’s 3% b-o-u-n-c-e on the 'other' LSE. Back when God was a boy (or girl), in the mid-seventies, my father retired to Dorset and befriended John Tyler, then the MD of Meggitt, when it was a ‘penny share’ making gas fittings and other widgets. MD wanted Dad to join the board as an NED, which was factionally divided, so he started buying shares to show faith and credibility. He invested ~£8,000, at an average price around 2p. The other directors then vetoed his appointment (seeing him – quite rightly – as a dangerous voting ally of the MD), but it just wasn’t worth the cost of selling the shares again. They dozed on, never getting above ~5p. Years later John wanted to retire, so Nigel McCorkell and Ken Coates at Flight Refuelling (Cobham), which was based just down the road, MBI’d into Meggitt and changed it to an aerospace supplier. The shares rocketed so the old man sold a few, and a few more over the years. He died, and I sold a few more. I still have ‘a few’. My theoretical cashing-out price used to be £6, so it was perhaps a sentimental relief when the shares topped just shy of £6 a couple of years ago and drifted back to the mid-threes – where I bought a few more, so it would be ‘real money’ and not just a freebie. When the next, inevitable consolidation of the aerospace component industry comes along, I reckon that Meggitt will be snapped up by one of the big US players. I have adjusted my selling price to £7+, and am happy to wait. It’s a fine company with niche products and good management, paying a healthy dividend, and I believe it to be still undervalued.
Came across this share on a stock screener, incredibly cheap for its fundamentals, I wonder why?
very strange.........................
Surely if the previous suitor walked away...with the rumour being thatthey would table a bid of £6....which isnt enough (this was when the share price was £4.70 - I would imagine that a possible offer would be forthcoming soon. In addition there is potential from other bidders ( as per the chatter) IMHO they would rather show their hands earlier than later - as meggit is turning itself around and there can only be further re-ratings which will put the price up. I for one am holding 17K and am looking forward to the fireworks when they happen - which they will!
Given whats going on in other markets I just bought. A US investor (Elliot) has just increased its share holding - takeover coming maybe.
Looks a good share for longer term with good divi prospects, or a good target for takeover....can see this rising to year end.