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Looking back several years now Speedy share price has never achieved or even come close to the target level set after results announcement. Targets of 90p previously and now 113p? Really?
Speedy clings to the 60 to 70p range and struggles to move beyond. It really is time for a sell up next results day or just before - the charts show spikes in price rise then fall off like a stone.
Bewildering really but see what the N Y brings.
Share tips : Worth a read, recommended buy …..
Analysts at Panmure Gordon believe Speedy is benefitting from “robust demand” and recommends buying the stock at a target price of 113p.
The performance note said: “Superior service levels continue to be a key factor driving these market share gains. As the construction cycle progresses, we anticipate that the importance of service will trend even higher. In particular, we expect that clients will increasingly emphasise equipment availability and reliability over price. In this environment, Speedy Hire is well placed to benefit and we expect sales, margins and returns to all move higher.”
Speedy Hire has a new chief executive officer, is expanding, has gone green and stands to benefit from Britain's £650bn of spending on infrastructure in the year ahead, so "buy" is the Sunday Times's Sabah Meddings's tip for readers.
Under its new boss, Russell Down, the equipment and tool hire specialist is branching out into selling directly to customers through concessions at B&Qs.
Worth noting, the company's promise is that it can supply its 350 most popular items in under four hours thanks to its 200 depots located across the country.
Its delivery vehicles meanwhile have either gone electric or, in the case of its diesel trucks, use hydrated vegetable oil, which reduces their emissions by 90%.
There is also a growing focus on battery power, solar and hydrogen instead of diesel-powered generators.
The company is not immune to the supply-chain problems plaguing the construction industry having already raised its drivers' pay twice this year.
Nevertheless, the company is growing.
So for Meddings: "despite the pressure, it is in a good position to benefit from the £650 billion of UK infrastructure spending in the years ahead. It is already involved in projects such as Thames Tideway and HS2.
"Liberum has a 90p target share price, while Panmure Gordon has a 113p target. At its current price, Speedy Hire looks undervalued. Buy."
Is very encouraging, strongest growth since September 2014. Analysts are behind with revenue (and consequently profit) forecasts. We know 2022 revenue is ~2% ahead of 2020, yet analysts have it over 7% behind.
https://tradingeconomics.com/united-kingdom/construction-pmi
https://www.marketscreener.com/quote/stock/SPEEDY-HIRE-PLC-4001626/financials/
Mediocre results as is the mode for Speedy and can't see market sentiment getting this towards 90p anytime soon unfortunately for me and other holders of this share. Tested the market at 81p earlier this week and now retreated like a scalded cat.
Dividend to look forward to at least.
Liberum raises its price target from 80p to 90p.
Nice positive write up in today's Evening Standard:
https://www.standard.co.uk/business/speedy-hire-after-the-plant-and-equipment-specialist-b937163.html
This has been a lovely trade over the last few months will be buying back in on the drop . Moving over to HSS hire now which should see a steady rise towards interims
Decent, better than expected but......
Growth in new FY so far only 2% above 2019 - hardly exciting (inflation alone may be most of that).
Balance sheet is hopelessly inefficient (and has been for years). Share buy back ? More aggressive dividends ?
Surely can’t just pay down what is a very low debt level.
Company has proved time and time again that takeovers have destroyed shareholder value, and organic growth not good enough
How are they going to ever grow at an acceptable rate (5%+ in my book) ?
I’m a fan of speedy, but a bit dodgy today’s rise.
Totally agree with your assumption good luck
Totally agree with your assumption good luck
Appears to be holding in the mid 70s of late and with the results out on the 25th it could be teeing up for another 10% uplift.
Don't know what the chart gazers think?
Really don't need any duff surprises this year to drag it down again and who knows - 1p dividend may be forthcoming!
Has anyone been in B&Q recently? You might have noticed a Speedy Hire section like this one in Sheffield Queens Road: https://twitter.com/F15JCM/status/1371577714780553216
YOU COULDNT HIT A BARN DOOR WITH A BANJO. YOU GOT OUT BEFORE YOU GOT THE THE BIG ELBOW SO I HEAR .
If you read the recent news from T Clarke and Morgan Sindall, you'll see construction order books are looking very healthy. The equipment in the UAE was disposed of at a ~15% premium to book value so I'm not seeing any negatives, apart from no more business from the UAE, obviously.
I hear lots of warm positive tones from the board but is this business really making any progress - share price over the last 8 years would indicate no
March 2014 - 65p today 66p! - a little bit of up an down movement over the years but no progress, lots of goodwill right offs and plenty of exceptional costs processed - is it worth persisting with?
Back up like a cherry picker.
Think news is on its way?
Welcome thinker, a very small group you'll find here, but am confident Speedy will beat expectations as the year progresses. I had a few bites of the cherry just now when the price momentarily dipped to 62p having sold some at 70p last November. This could dip back into the 50's but the half year report sounded quite bullish and hopefully that momentum is still building as we speak.
It's now twelve weeks since that report so a good trading update would be most welcome right now to lift the SP back up to that 69p support level
Welcome to speedy
Hello everyone. I’m new to this chat group. SDY seems to follow pretty closely to bollinger band pattern and is trading below lower band right now which might indicate a good time to buy. The spread is higher than I normally go for which puts me off as trade volume low. Construction and DIY has been booming over the past year. Does anyone else have any thoughts on where the share might go this year?.Good luck to everyone with SDY.
Definitely hit a nerve there