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Class action against irrational criticism maybe one route. When figure results come out and RPC continues to grow then the sp will recover. These evil b..tards who scare ordinary investors into losing their money to them are miserable beings who will/are being punished, what goes around always comes around in one way or another. I'm holding, not selling my 8,000 shares, as all the analysts covering this share have a BUY. Also major Lt holders are Black rock, AXA, etc
On volumes this like I always feel that as a PI I'm missing out on some key information. 12 out of 12 brokers all recommend the stock (and assume they are doing so to their clients), on a consensus price target of 11.5 and the recent trading announcement said that revenue and earnings are ahead of expectations. Yet someone is dumping abnormally large volumes. Something doesn't add up. I've seen companies with 30% profit warnings which have fallen less than this has over the last month. ** Trader at one of the brokers says concerns over RPC's aggressive M&A programme - the company has announced ten deals over the last year - is leading to concerns over organic growth, causing the share price to be "weak and jittery"
Rumours do a lot of damage to a sp don't they! I'm sticking with this one. This is not a small aim listed company who make up stuff as they go along. I'm just hoping we aren't being lied to. Dramatic drop in sp is just crazy though. Think we'll end the day down between 3-5% but that's just a guess!
Andyaly - - "am sure this will be fine unless the issues are proved to be correct" Isn't this just like saying it will be sunny unless it rains?
The article reflects the negative sentiment around RPC. With no obvious share price catalysts this may come under continued downward pressure for the near future. I've been a long term holder and seen a lot of success from this company but I've decided to take some profits. There is no limit to how damaging irrational sentiment instigated by those with vested interest in failure can be. I'll definitely be ready to get back in once the dust settles, which I hope is sooner rather than later.
Surely the Share Mag doesn't influence the sp to drop it by 8% ? RPC is still in progress of integrating its new acquisitions so RoC not optimised yet. Numis reiterates BUY today with 1200p target and another 4 or so have 1140p targets so surely they are relevant and unlikely to all be wrong.
Tiny article in the share magazine released today which reverse the previous buy opinion to a sell: "Market sentiment appears to be turning against plastics manufacturing firm RPC after an aggressive period of buying other businesses. We think it is time to give up the shares in fear it may become a target for 'bear raiders'...RPC has already received criticism for falling returns on capital"
Personally I wont panic, please note that there was a recovery and the share price closed at 820, IMO there is very likely to be a recovery tomorrow and the price should be nearer 900p at close on Friday. The purchased on Monday / Tuesday could see the share price push nearer 1000. IMO RPC can and should be able to support 1000 to 1200. ATB DAR
I got stopped out so thats me done almost down 12% does look to be over-done thought would head back towards the 1000 mark but not the case. FTSE seems pretty flat/range bound and some have raised some red flags i.e too many acq. hiding poor growth and possible accounting issues. L/T am sure this will be fine unless the issues are proved to be correct tempted get back but with markets looking flat will prob leave it now.
In shares. All a big scam. I had two holdings that were black out of about 12 and now this is in the red and for no reason!
looks like panic selling , one last move before recovering, trend line is around 800, I purchased more at 7.715, if it won't recover it will tund to be a long term position ...
this really stinks price started to recover nicely yesterday and today morning and suddenly drop and currently over 7% down ...
If Mm's might know something about RPC that is neither in the public domain nor known by the Investment Banks who have BUY Ratings at 1140p'ish, then there are illegalities afloat ! Strengthening GBP is only reason I can see for today's drop and that is really only a book transaction as RPC's results are reported in GBP. They are well diversified with GBP, USD as well as Euro, etc.. Must be manipulation unless some news comes out tomorrow.
Pandy - I bought this way back when the price was 230p and even after taking up rights I'll still well covered so not too worried, but would hesitate to buy more. A fall of around 20% in two months suggests to me that the MM's know something they're not letting on
Why does this sp keep falling!? If it wasn't for Mathsman comment about QPP I'd be buying more right now.
<b>BRIEF – RPC sees FY revenue to be significantly ahead of last year</b> 30-03-2017 07:15 March 30 (Reuters) – RPC Group Plc Pre close trading statement Revenues for financial year 2016/2017 are anticipated to be significantly ahead of last year <b>Overall performance has been encouraging with adjusted operating profit for year ahead of management expectations.</b> Group's financial position remains robust with good cash flow development Board will continue to implement vision 2020 focused growth strategy Is looking to grow selectively in a consolidating industry whilst further enhancing its strategic buying position - ceo Source text for Eikon: ... Further company coverage: RPC.L (Bangalore.newsroom@thomsonreuters.com;)
Yesterday's Northern Trust report reminded me strongly of the report that destroyed Quindell "a country club built on sand"....that did nothing for my retirement fund. I don't feel that RPC is another Quindell but just knowing that they are being watched closely will be no bad thing for the directors, it should focus their minds wonderfully. For anyone who didn't read it yesterday..... "RPC hit a six-month low on Wednesday after Northern Trust analysts accused the packaging maker of disguising structural problems with a lot of acquisitions. The group last week completed the $640m purchase of Letica, a Michigan-based peer, which was its tenth deal in 12 months. According to Northern Trust analyst Paul Moran, RPC management has been encouraged to pursue value-destructive acquisitions by “innovative” bonus schemes and “some of the most aggressive accounting we have seen”. He argued that RPC’s definitions of adjusted profit and free cash flow had been inconsistent over the past five years, and had flattered the figures in ways that sometimes “defy accounting logic”. And by stepping up the pace of acquisitions over the 12 months, RPC had masked its structurally weak pricing power and labour cost inflation, Northern Trust told clients. “We accept that a rights-issue funded, value destroying roll-up story can continue to report adjusted EPS growth for as long as shareholders are willing to fund it,” the broker said. “But should the hitherto supportive appetite for rights issues fade, we think shareholders will find a structurally challenged, low margin, highly levered, sub cost-of-capital business trading on circa 23 times [current year] earnings on our estimates, an undeserved 50 per cent premium to the market.”
I would buy today but last batch I bought was 889 so its too close for me. Will buy more if its drops further
Probably is a good opportunity right now. Really wasn't expecting this. I imagine it'll bounce back a little tomorrow.
I think most of this drop is due to the general market being down today
we might need to wait a bit longer for the steady rise at the moment looks like a steady decline :( at least you have another chance to buy more :)
Think we'll see a steady rise again now and would buy more but have no money :(
bought some more today at 889.63 lets see.
started buying last week but looks like I started too early again :/