Member Info for NorrisCole

A nice bounce-back in the last couple of days here which is welcome. Personally I think it remains undervalued and I think down the line it will be subject to a takeover.

Interesting to note that in the UK, they have re-jigged their pricing upwards for tickets in recent months. I'm a frequent traveler between London and Gloucester and have noticed that the price differential between train and National Express on off-peak times have narrowed significantly, which is good for MCG, not so good for the consumer. The train is around £40 one way and NE around £25 one-way. Previously, you'd be able to snap up a NE ticket a couple of days before traveling for £13-ish, so they are closing this gap. Of course, I can only comment on this route, which is a pretty busy one.

Perennial underperformer and has done nothing since the Deepwater oil spill back in 2010.

Good work Trenners - I picked some up yesterday in the 15's as part of the market shakeup. What's significantly changed in tangible terms in global markets since last Thursday until today that's ultimately rattled the markets? Erm, not a lot in my view ... all conjecture and lack of actual substance. Should see a bit of a retrace here in my view ...

Agreed ... even more of a case for a takeover here, if not, heading downwards again ....

Good news indeed ... after the trading update 2/3 months ago the SP regained the 500p level after trading in the high 3's/low 4's, which had subsequently evaporated to where we were a couple of days ago. Hopefully some follow-through buying will prevail, but yes, still undervalued in my opinion and should be in the 6's.

Something like 'down, down, deeper on down' I believe.

Seems to be no end in sight for the downward trend here .....

As usual, analysts from UBS talking out of their nether regions. For my sins, I undertake financial analysis for commercial real estate companies - give me a Premier Inn any day of the week as a tenant. Strong underlying financials, and along with Travelodge, taking market share from the mid-market players, who in my view, are the one's that will be finding things 'tougher'.

Bought on the 5% dip here ...

Interesting ..... do we know anything about Mr Lobbenberg?

Good to see - one of the standouts in the UK retail sector for me and should also partly benefit from the Wilko demise. Very undervalued in my view.

Hi All

Not followed Capita in recent years and last really looked into them when the SP was in the 40's. What has been the prime driver/s behind the SP decline over the last couple of years? Recovery play or too risky to call?

TIA

Completely agree Corryvreckan1 - the UK market has stalled for months and fixated on one set of data after another. When will markets start to move? My guess is when the US Fed initiates a cut. I think no other major central bank has the balls to start cutting rates even when conditions allow .... Alas, we are at the whim of the US, where the markets are storming ahead.

Also, with continued rail action/strikes and disruption - these guys are the beneficiaries here. Unless any rail resolution re pay, I'd say more strikes lined up for the festive season .... when we'll be on the National Express again

Agree Pedro - I'm also of the opinion is undervalued and will be taken out. Obviously been hit by the increase in fuel costs, which you'd think they've hedged against to minimise the impacts. Also, they are a beneficiary in the UK from continued train strikes and disruption - a case being last Friday with Storm Babet when no trains were running to and out of Paddington to the West Country and Wales. Like many others, I took to the National Express and was lucky as most services NE were running from say, Bristol and Cheltenham into London last Friday and into Saturday were sold out.

Yep, still holding here Dave, and under water topping up frequently on dips.

I don't get the current drift in share price apart from general market malaise and weak sentiment. The SSP share price is now drifting down to the price when Covid kicked in (not adjusting for the 2021 rights issue), when they weren't even trading. I travel a fair bit, especially on the railways and their eateries at mainline stations look to be doing pretty well.

Like most of the travel sector at the moment, SSP share price is struggling. Companies like Easyjet and IAG are reporting strong trading (above pre-pandemic levels) yet SPs are doing nothing and the one where potential suitors must be running the slide rule over is Mobico (National Express).

Big Yellow tends to het tied in with movements in the housing market - if there's doubt in housing , less people moving, less demand for storage. I also think their occupancy rates are slipping a little as well, if less demand. Also storage is seen as discretionary spend and with a cost of living crisis going on, people will spend less on storage.

Agreed - Having invested in predominantly the UK market over the last 35 years, I've lost virtually all faith in UK valuations etc. Companies missing guidance get hammered, companies meeting guidance get hammered and companies exceeding guidance, initially seem to have a positive reaction, but then downturns the next day with no follow through momentum.

Long gone are the days of what I would call 'value' investing. The markets these days are so engrossed on the next data figure, be it rate decisions, inflation, GDP, consumer confidence and also data numbers from overseas. I think its safe to say that the US markets will not take into account any UK numbers, yet the UK will rise and fall with whatever the US does ......

Strange times indeed - I'm not a holder of SMWH at present, though did hold 5 years ago when they were trading in the low £20's. Its been known all along that the high street chain is in gradual decline, and that growth is seen in the travel/airport sectors, which is seeing a strong recovery, and which in the note, has reported good LFL growth.

Seems in today's market that any company meeting guidance gets hammered as well as missing guidance, and even those that exceed guidance trade well during that day, but there's rarely a follow through rally - look at Johnsons Services shares, which were up yesterday on smashing estimates but a big pull-back today.

Unfortunately, I've lost confidence in the UK market completely - there seems too much emphasis on short-term markers and value, long-term hold investing has gone out of the window.

The UK market is also massively undervalued to other overseas indices, so when UK companies get bought out by overseas investors etc, and we lose a little bit more of UK plc then really we should be valuing our listed UK businesses somewhat better ....

In agreement Pianista. Having worked in the accountancy profession and still in contact with partners at accountancy firms, the delays could even be from the accountants' themselves rather than anything untoward at Halfords. I'm hearing of staff shortages in major accountancy firms where they cannot hire fast enough, so could be that they've not met timescales their end. A delay of 6 days shouldn't ring bells, especially as the company has reiterated earnings. If the delay was 1 month, or even unspecified and profits guidance was pulled then I would be concerned ....

Agree, another undeserved fall in the JD share price here, especially after releasing strong results last week.

I continually tire of UK corporate share prices getting hit by the the fortunes of US peers. I don't follow US markets to any great depth, but out of interest, how did the Footlocker stock price react when JD released its results last week?

Should have made a foray into Spoons at sub £4. Would have made a nice little 10% return in the week. Not to be sniffed at in the current market melee.