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Hello Matt,
Well I have just brought some shares in RST today, and I really do think the current CEO and the new CFO will move the company to motor - the recent final accounts was impressive.
ATB
DAR
...bacK through £4. Dar, you're going to miss oput if you're not careful......;-))
Trading for the first quarter was in line with the Board's expectations.
Glad I held on at 265, not needing much Gaviscon now, perhaps buy at 390, or would that be too optimistic?. Seems a unique business....
Why did it get panned when it came oout with a decent set of figures? Who Knows??!! buy good quality cheap stocks, and eventually the market wakes up. It often happens that quite a few investors wake up at the same time as well! Bloody marvelous!
Its been cheap for a while. But why today?
Just too cheap...:-)
Has the share been tipped?
I appreciate that at times different MM's sell and buy with small variations in price. I do not understand the continual wide range of prices paid for here. Also noted that spread is exorbitant. There seems to no reasoning from one level to another.
Any thoughts anyone?
Having worked in the industry I know how reluctant customers are to move their archival storage; permanently destroy storage; or reduce the volume of material put into storage.
The income is cast iron guaranteed and annual organic growth of around 7% also almost guaranteed.
By maximising space utilization most of the increase in income will flow to the bottom line.
Which is why Iron Mountain - the closest comparison to Restore - trades on a historic P/E of 33.
Can only believe that this short term derating of Restore will reverse.
Well, more than halfway to my short term target already!!
..is that given this Company's record of growth and capable management, and prospects, it should be on a PE multiple of 15x 2018 earnings at a minimum. This should mean a short-term price target of 375p. Personally, I think it should hit 18x next years earnings at some point in 2019, which based on consensus gives a nice round price target of £5 - This would be my target by end year. We'll see.
Very strong company with good growth and a solid board. Back to being a good medium term hold for the ISA. Hopefully the institutions will jump back in and we’ll get a nice bounce.
Must admit the part of the RNS that read "The acquisition of TNT Business Solutions has provided the group with significant additional growth opportunities, particularly in the public sector, where many entities still undertake records management and other services we provide in-house." did surprise me. I can remember the Public Sector body I worked for historically stored personnel records at Swadlincote for which a monthly storage, retrieval and put-away fee was paid, but all new physical records were scanned using an Electronic Document Record Management System prior to shredding the original docs. Would have thought that would be the norm for all public depts.
Berenberg's have a buy rating, dated today, and a target price of 515p
This sp still has a long way to go bearing in mind liberum's target price of 635p on 14th Jan 19 based on their profit forecast that more or less mirrors the actual results in the RNS report
My buy order from opening this morning still hasnt gone through. Typical ii. >:(
Results look great to me. Perhaps the ship will start turning around.
I emailed restore a couple of weeks ago, and was pleasantly surprised to get an email from Charles Skinner. He said it just appears market sentiment appears to be running against them at the moment, compounded by an institutional selling its holding. Brokers revised eps forecast down 5% on January trading statement, and this was taken badly by nervous markets. Also change in chief exec may be causing more nervousness. He also said he was personally surprised by the derating as the business is fundamentally the same. Needless to say I’m not selling! Although looks like it’s tanking again today oh joy..... Tim
Help!.........lost so much, will have to hang on, as ATG says, CEO buy at 335 is positive at least. You've got to have faith I guess, business fundamentals are good, but 30% loss over 3 months is like bad indigestion. I will not look at SP for 1 month, otherwise it's Gaviscon.....
With due respect to the man. Giles Hargreave does not always get it right - and nor does anyone!
Liking the £183k CEO buy,
Decent trading update.
High P/E but I like the business. I also like the bullish divergence on the chart.
GLA
Oh dear, white knuckle ride; optimist says could make nice profits, pessimist says how long will it take to recover or will it ever? Got to hang on or say goodbye to 7% of my portfolio
I felt that Marlborough's holding was about 1.4% of their fund, so there should have been cause for a RNS. I didn't say I did not like RST but further investment is not on the agenda. Because of situation in BREXIT I have decided not to invest as much as before and I am holding cash until I feel the markets represent good value.
In my opinion there maybe further weakness in many good companies
No RNS, so he can't have been a large holder? Most retail funds have seen huge redemptions ahead of BREXIT and with recent market vol, and hence have been forced sellers of stocks, even ones they like. I wouldn't add too much weight to one fund managers' actions. If you liked it below £5, but don't like it at £3.30, that seems like an odd investment approach? You need to be brave to make real money in these markets, and that means buying good businesses when the market sentiment is poor.