Share Name Share Symbol Market Type Share ISIN Share Description
Lavendon Group LSE:LVD London Ordinary Share GB0005057541 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.75p +1.33% 133.75p 132.75p 133.75p 133.75p 130.00p 130.25p 83,846 16:35:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 248.6 16.2 4.9 27.2 226.98

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Date Time Title Posts
20/10/201611:55Lavendon charts and news 20062,055
28/8/201508:24The Revival of LAVENDON - for Cherry Pickers480
24/3/201519:57 Shares in Lavendon peaked above 500p -
28/9/200610:11Lavendon group244
10/1/200300:37LVD a great investment opportunity..18

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Lavendon Daily Update: Lavendon Group is listed in the Support Services sector of the London Stock Exchange with ticker LVD. The last closing price for Lavendon was 132p.
Lavendon Group has a 4 week average price of 133.51p and a 12 week average price of 127.28p.
The 1 year high share price is 153p while the 1 year low share price is currently 107.25p.
There are currently 169,701,179 shares in issue and the average daily traded volume is 80,119 shares. The market capitalisation of Lavendon Group is £226,975,326.91.
frankwhite: Share price over the last 5 years has been abysmal and stuck between £1-£2, hardly exciting. I have sold my holding into this rise to breakeven. The share price price will float around this price or even come down that I'm sure of.
bpc10: Write up from Paul Scott today on the results: There's only one share that interests me this morning, Lavendon (LON:LVD) , so let's crack no with that. Lavendon (LON:LVD) Share price: 134p (up 7.2% today) No. shares: 169.9m Market cap: £227.7m (at the time of writing, I hold a long position in this share) Interim results, 6m to 30 Jun 2016 - this is an equipment hire group, operating in UK, Europe & M.East. Its niche is powered aerial access equipment - the website is quite interesting, showing all the different types of product which Lavendon hires out. It claims to be the market leader. What interests me is that the valuation seems compelling, compared with other hire companies; Forward PER is only about 6.5 Dividend yield is almost 5%, 3-times covered. It has a strong balance sheet. Equipment hire companies are often on a rating of about 2x NTAV. In this case, the latest NAV figure announced today is £237.9m. Deduct goodwill & other intangibles of £51.7m, arrives at £186.2m NTAV. So 2x NTAV (a fair rating, in my opinion), would give a valuation of £372.4m, or 219p per share - which is my reckoning of where the shares probably should be now. That's a very attractive 63% potential upside, if I'm right about this. Consistently meeting market expectations, yet share price has fallen considerably - this doesn't make sense to me. The market is clearly expecting a big downturn in earnings, but there doesn't appear to be any evidence at all to suggest that is happening, or likely to happen. Looking at today's interim results, the only surprise is a big increase in the dividend - up 18% - so clearly management are confident. Forecasts - Peel Hunt is forecasting 18.7p for 2016, and 19.4p for 2017. However, there is possible upside on these figures, because they have not factored in favourable forex movements. Over half of revenue, profit & cashflows are generated outside the UK. Outlook - there is more detail given, but the key part says; Trading since the half year has continued to be in line with our expectations and, whilst mindful of the recent increased economic uncertainty, the Board remains confident of making further progress in the second half and delivering on its expectations for 2016. That sounds reassuring. I wouldn't be surprised if they deliver full year results ahead of forecast, given the forex tailwind. So why the market is only rating this on a PER of about 6.5, is a mystery to me. Balance sheet - net debt has risen to £148.9m, due to fleet expansion, and forex movements which increase overseas debt when translated into sterling. This really isn't a problem though, and in my opinion the debt is perfectly reasonable when compared with EBITDA and the book value of the hire fleet. When interest rates are this low, it makes sense for equipment hire companies to borrow cheaply, and generate a much higher return from the equipment. The ROCE here is 12.2%, which has gone down a bit, but looks pretty good to me compared with dirt cheap bank debt. I suppose the danger is that such low interest rates may cause hire companies to over-invest, resulting in over-supply of hire equipment, and eventually a plunge in profits when the next recession coincides with over-supply. On a more general level, interest rates being too low, for too long, is likely to lead to all sorts of capital misallocations, with pretty bad consequences eventually. In the meantime however, we can make hay whilst the sun shines. My opinion - to my mind, this stock is just the wrong price. The market seems to be anticipating downturns in Lavendon's main markets, which are just not happening. Bear in mind that Saudi Arabia is a particularly profitable market for Lavendon, but other M.Eastern countries seem to be doing well too, and compensating for some margin reduction there. I'm not madly keen on general hire companies. It's the niche ones which are interesting, such as this. With such attractive valuation metrics, and more positive results/outlook today, I'm feeling very bullish on this stock, and will probably be adding to my position further over the coming weeks. There again, I'm fairly bullish on the economic outlook. If you're bearish on the economic outlook, then hire companies are the last sector you want to be in - as they're very cyclical. Just look at how profits collapsed at HSS Hire (LON:HSS) and Speedy Hire (LON:SDY) recently, although their problems seem to be more about poor management. The trouble is that when revenues do fall, there's an operationally geared impact due to huge, fixed depreciation charges. So i'm not in any way glossing over the risks in this sector. However, in my view the lowly valuation at LVD seems excessively pessimistic, hence why I'm bullish on this share. I see good upside, and lovely big divis to collect in whilst I wait. Ideal really.
paulypilot: The H1 figures should be fine - as the company issued a positive update quite recently, on 14 July 2016: The disconnect between trading updates (consistently positive), and the share price (relentlessly falling, apart from recent rebound) has been remarkable here. Still, it gave us a chance to load up with cheap shares, so I'm not complaining - my avg buy price is now down to about 124. With a good solid company, I find that averaging-down can be a very successful strategy. It's only a mistake with speculative stuff, or thing that are going down the pan. This is neither. Regards, Paul (long LVD)
pyemckay: share price isn't going to move up much unless debt is reduced imo
my retirement fund: Hmmm I like this company. However in reality its firmly rooted in a sector that has just reported its sharpest contraction since the credit crunch.The market is not going to get over this revelation for some time, certainly not until there is some increasing evidence the tide has turned.Until that time the really is no reason to be wanting to aquire any of the shares at all and there is every reason to expect that the share price will continue to weaken further in the coming weeks amd months.
rivaldo: Another good review of LVD's update here: Https:// "A bubbly trading update has sent Lavendon Group’s (LSE: LVD) share price shooting 9% higher in Thursday trade. The power equipment provider — which collapsed to four-year lows last week — advised that total revenues leapt 15% during January-June, while rental revenues advanced 13% from the year-ago period. Lavendon therefore “remains confident of delivering its expectations for the full year,” it advised, and with good reason: market share grabs are helping to drive sales higher in the UK, Lavendon’s largest single market. Meanwhile, investors fearing a Brexit hangover can take heart from Lavendon’s hefty overseas exposure. The Middle East and Continental Europe are responsible for 29% and 27% of group revenues respectively, and sales in these regions continued to climb in the first half. I believe a forward P/E rating of 6.8 times makes Lavendon an attractive stock selection looking ahead."
3rd eye: Lavendon Group plc 55.1% Potential Upside Indicated by Berenberg Posted by: Katherine Hargreaves 19th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at Berenberg. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Berenberg have set a target price of 230 GBX on its stock. This would imply the analyst believes there is now a potential upside of 55.1% from today’s opening price of 148.25 GBX. Over the last 30 and 90 trading days the company share price has increased 3.75 points and increased 23.25 points respectively. Lavendon Group plc LON:LVD has a 50 day moving average of 142.63 GBX and a 200 Day Moving Average share price is recorded at 153.64 GBX. The 52 week high for the share price is currently at 211.5 GBX while the year low stock price is currently 120.75 GBX. There are currently 169,711,557 shares in issue with the average daily volume traded being 318,147. Market capitalisation for LON:LVD is £251,597,202 GBP.
3rd eye: Lavendon Group plc 100.7% Potential Upside Indicated by Peel Hunt Posted by: Katherine Hargreaves 14th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at Peel Hunt. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Peel Hunt have set a target price of 275 GBX on its stock. This now indicates the analyst believes there is a possible upside of 100.7% from the opening price of 137 GBX. Over the last 30 and 90 trading days the company share price has decreased 9.25 points and increased 5 points respectively. Lavendon Group plc LON:LVD has a 50 day moving average of 141.93 GBX and a 200 day moving average of 154.26 GBX. The 52 week high share price is 211.5 GBX while the 52 week low for the share price is 120.75 GBX. There are currently 169,711,599 shares in issue with the average daily volume traded being 307,235. Market capitalisation for LON:LVD is £235,899,123 GBP.
bugle4: Paul Scott's View hare price: 132.5p (up 4% today) No. shares: 169.7m Market cap: £224.9m (at the time of writing, I hold a long position in this share) Trading update - I was bracing myself for a profit warning here, as the share price has been relentlessly declining. So it was surprising to read a positive update this morning, with sales trends improving decently in Q4 (up to +5% in Q4, as opposed to +1%, +2%, +1% in Q1-3 2015). Overall trading looks good; "The Group has delivered an improved year on year performance, with growth in revenues and further operational efficiencies driving increases in profitability, margins and ROCE. The Board expects the Group's results for 2015 to be at the top end of market expectations. Outlook - there's a note of caution, but still upbeat; As we move into 2016, whilst recognising the recent increase in uncertainty of the economic outlook, we are looking forward to building on the momentum we have developed during the past few years and to making further progress in the year ahead." Valuation - Lavendon appears strikingly cheap compared with other equipment hire companies, both on a PER, and a P/NTAV basis. It has a sound balance sheet too, and a good dividend yield. My opinion - I think this looks strikingly good value, and am treating the recent price fall, combined with today's positive trading update, as a buying opportunity. As always, that's just my personal opinion, which may turn out to be right or wrong. It's not a recommendation, the onus is on readers to research things yourself, and form your own conclusion. The downside risk is mainly of deteriorating trading in future, in particular in the M.East, where about 30% of the group's profits come from. Although the comments in today's statement about that region were surprisingly upbeat. I feel the share price more than factors in the downside risks. - See more at:
dangersimpson2: I think the reason this director buy has had such a positive effect on the share price is that it gives confidence that there is not anything significantly wrong with the current performance of the business. The size of the purchase as both monetary value and proportion of existing holding are large and don't smack of the co-ordinated small director buys that some mangement engage in purely to support the price. With an overhang clearly in place and with the share price falling daily people start to fear that the weakness is due to a leak and hence all buyers dry up even if they believe the company to be significantly undervalued based on current trading expectaions. So if the seller keeps selling the price keeps falling in a vicious cycle. The director buy breaks that cycle and people who believe the business to be undervalued start to buy again meaning the share price can reach equilibruim of where the marginal buyers and sellers are.
Lavendon share price data is direct from the London Stock Exchange
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