Travis Perkins Share Discussion Threads

[simon gordon] 14/4/2024 20:15

JO Hambro - 9/4/24

That the housing market has been weak for a while and key building materials have seen some relative deflation is not news but even in this context the Travis Perkins numbers were still a disappointment. The new finance director is a welcome addition and his decisive action on curtailing ever expanding losses in Toolstation Europe is long overdue. Subsequent news that the CEO will be stepping down was the logical next step and we are encouraged by the Board’s actions as our concerns over urgency had been growing. We had been vocal in communicating our disappointment over the speed and scale of cost savings and footprint reductions. We still believe there is much more that can be done here. This is a market leading asset at a cyclical trough and so this is not time to abandon ship. Instead, we intend to engage and work alongside the Board to unlock the equity value upside that resides here.

[jubberjim] 05/3/2024 07:15

Looking at those results this morning

Hardly surprising but will allow dust to settle before attempting to go again

Good luck holders

[the white house] 28/2/2023 07:54

Shocking interview on CNBC boss just wanting to talk about history and brands and not answering Qs on outlook etc

[sphere25] 13/10/2022 15:55

Hold the front page, a bullish post here:

"Travis Perkins (TPK) is unloved but JOHCM manager Alex Savvides says there is unrealised value in the builders’ merchants.

Savvides holds the stock in his £1.3bn JOHCM UK Dynamic fund and in a recent update recognised that the company has ‘continued to stay out of favour as fears of a deep recession in the UK [lead] to the market derating the stock close to its decade low price/earnings’;.

He said this happened ‘despite next year’s [PE ratio] having been revised lower by the market’.

‘At current prices, we believe the entire merchanting division alone could potentially justify the value of the company, with more than £400m of unrealised freehold property gains and the entire Toolstation business being offered for free,’ he said.

Shares in Travis Perkins closed down 2.9% at 755p on Wednesday, having halved this year."


Clearly at some point the analysts are going to lower the forecasts to a point where it is going to be difficult to not hit the numbers or when the price just keeps getting bought up on even weak statements.

I'm still bearish but considering the beat downs of some shares, you do wonder if some astute folk are having a little nibble in some companies down here. Maybe some short term pain is becoming worth long term gain in some?

Blooming hek, best not get too bullish!

All imo
DYOR

[porsche1945] 15/8/2022 13:20

These were doing so well until brexit vote, at a high then almost to the day lost 50pc as U.K.’s prospects got vaporised over next 3 years and sterling got destroyed. Good bounce post covid but looking at chart now it resembles 2007/2008 almost exactly, market pricing in housing crash, mortgage rates will need to double from here to get parabolic inflation highest in g7 under control, check out 2007/08 charts, maybe still a long way to fall.

[jeffian] 04/8/2022 10:06

Not much interest here?

May be one to pick up for recovery.


Market underestimating Travis Perkins, says Liberum

Builders’ merchants Travis Perkins (TPK) has derated too far, according to Liberum.

Analyst Charlie Campbell retained his ‘buy’ recommendation but reduced the target price from £18.14 to £14.40 on the stock, which inched 0.1% higher to close at 935p on Wednesday.

Campbell said the first half performance of Toolstation was ‘disappointing’, but the merchanting division performed well, ‘bearing fruit from work to reposition it and also from exposure to social housing refurbishment which is now growing again’. He views ‘Toolstation’s hiccup as a blip not a trend’.

‘We see over 50% upside to an unadventurous price target of £14.40,’ said Campbell. ‘The market seems to be overestimating downside risk, dismissing Toolstation’s long-term growth and ignoring improvement in the core.’

[jimarilo] 28/10/2021 09:04

Local TP are quoting 2023 for some items, supply is a major issue and not just in this sector

[danb45] 30/9/2021 13:53

Thanks ! been weak last wk or two too :-(

[bashor] 30/9/2021 13:16

Ex dividend today

[danb45] 30/9/2021 10:09

It's been dropping like a stone :-( presumably supply issues / extra costs... ?

[1tx] 03/8/2021 10:31

It has been a long time & I have been close to throwing in the towel in recent years;but the results seem to confirm that we are back on track with a more focused business with actual profits,not just normalised profits after write offs & return of dividends.Still to decide what to do with my Wickes shares.

[danb45] 22/6/2021 16:34

a good day here ??

[4053777] 16/3/2021 23:55

The Ves verity your investment here looking good for £20 Q3 !

[4053777] 23/12/2020 17:07

The rise continues, 2021 looking good out of lockdown hopefully!

[s34icknote] 09/9/2020 10:13

Quality company net Just gonna struggle . Already come up from 5.80 !Good long term bet . Shame they didn't sell Wickes last year Great believer in toolstation

[netcurtains] 08/9/2020 17:58

ps - I sold out. The DIY side great rest not so great.

[netcurtains] 08/9/2020 10:05

It is coming back a bit now!

[its the oxman] 08/9/2020 09:07

Presumably the big restructuring hit will not repeat. Business is down, but picking up. Bit of a harsh reaction today.

[netcurtains] 08/9/2020 08:59

What are your views?

Group like-for-like sales trends in July and August have returned to close to prior year levels which is supported by domestic RMI and current strong trading in consumer DIY markets.

[netcurtains] 08/9/2020 07:52

I guess results might be released via audio (lol) - they are doing audio presentation at 9am:

[netcurtains] 07/9/2020 13:38

Lumber shortage:
"Lumber producers didn't anticipate the resurgence of the housing sector being as strong as it has been, and the massive increase in this do-it-yourself demand, Logan said."

[netcurtains] 07/9/2020 13:07

DNLM trading update (today) very positive on DIY so bodes well?

[netcurtains] 07/9/2020 10:39

vt: Thanks for your input....