Bodycote Share Discussion Threads

[pmitchell] 18/12/2007 09:49

Shiny, either you are deluded, work for Financial Dynamics (Bodycote's PR firm) or just another ramper that plague ADVFN.

It is clear from their trading statement that there are concerns with future growth and profitability.

Numis downgraded BOY today; so there is no good news out there. My advise is not to "fill your boots as this cheap" as Shiny would suggest but adopt a wait and see approach, given the absence of any form of Christmas rally the market had hoped for.

[bigboyo] 18/12/2007 09:01

shiny

reliable source ??? true sales up by 18% @ constant currecy (15% actual) ---

market does not seem to like it

[shiny1000] 17/12/2007 18:26

We expect Bodycote's
December trading statement (in the w/c the 17th) to reassure the market on
current trading and to announce some £45m of acquisitions which would be c. 5%
accretive. We are revising our Price Target to 275p (from 325p).

[shiny1000] 17/12/2007 18:22

Good Value, Catalysts Ahead
�� Catalysts Ahead: Dec Trading Statement & More Acquisitions
Following the recent pull-back Bodycote is offering very good value, in our view,
trading only 10% above its trough EV/Sales despite its significantly improved
business profile and the fact a global industrial recession of the same severity as
2001/2 is unlikely (key end-markets which collapsed last time – Power Generation
and Aerospace – are unlikely to do so this time). We expect Bodycote's
December trading statement (in the w/c the 17th) to reassure the market on
current trading and to announce some £45m of acquisitions which would be c. 5%
accretive. We are revising our Price Target to 275p (from 325p, while our
forecasts are unchanged, we recognise the higher risk premium for highly cyclical
companies), BUY.
Sulzer Bid Still Possible, Bid Premium Warranted
We believe it is still possible that Sulzer will bid for Bodycote once more (it bid
344p six months ago) as: (i) Sulzer's officially declined to comment on another
bid, in our view this clearly means Sulzer is still looking at Bodycote (ii) The
industrial strategic rationale offered for the bid last time remains intact (although
we continue to question the underlying industrial logic) and (iii) We believe
Bodycote shareholders would be willing to accept a lower bid from Sulzer, given
greater concerns over the industrial cycle and lower levels of liquidity in the
market reducing the hopes of a private equity counter-bid. We note that
management turned down previous Sulzer bids after canvassing shareholders
and receiving more than 50% support.
Conservative Fair Value 275p, BUY
Our 275p PO is based on a very conservative sum-of-the-parts where we value
the operations at a c.7% sector-discount (Bodycote's 2000-7 average sector
discount), while also applying a 10% Sulzer bid premium and a 20p DCF-derived
value for the ongoing acquisition story.

[shiny1000] 17/12/2007 17:59

News Tomorrow, watch this baby go up like a rocket!!!

[shiny1000] 16/12/2007 12:29

Dec 18th..should get a trading statement update.

[shiny1000] 15/12/2007 10:59

The engineering group Bodycote was a principal focus of the rumour mill last month with speculation that an unnamed suitor was preparing a bid.

Bodycote repelled a £1.1bn takeover assault from Swiss rival Sulzer in April. The bad-tempered saga culminated in the Competition Commission issuing a put up or shut up which forced Sulzer to walk away for at least six months.

[shiny1000] 15/12/2007 10:39

Bodycote International found analysts who visited the company returned in a generally upbeat mood. They reported that despite a tough trading environment for Bodycote, it continued to win outsourcing deals as the trend for customers to hive-off heat treatment and materials testing continued.

[shiny1000] 15/12/2007 10:29

Bodycote Named One of Britain's Most Admired Companies




Bodycote has been voted one of Britain's Most Admired Companies in an annual poll by magazine 'Management Today'.
Britain's Most Admired Companies is the UK's longest established business awards competition and Bodycote made its first entry into the league table this year at number 99, out of 220 companies. Bodycote was also ranked at number 5 in the 'Most Admired Companies' Engineering & Machinery sector.

Now in its 13th year, the Most Admired Companies league includes companies from all business sectors, including business to business and business to consumer companies. The winners are determined by a poll of Britain's 10 largest public companies in 22 sectors, who are asked to rate and evaluate their peers against nine criteria: quality of management; financial soundness; quality of products and services; ability to attract, develop and retain top talent; value as long-term investment; capacity to innovate; quality of marketing; community and environmental responsibility; and use of corporate assets. Analysts at leading City investment firms are also polled.

Commenting on Bodycote's presence in the league table, Chief Executive, John Hubbard, said: "Being chosen as one of Britain's most admired companies is a wonderful recognition for all the people in Bodycote who daily provide excellent quality and reliable service for our customers. Now that we have achieved such status it will encourage each of us to strive to continuously improve our performance so we do not disappoint those that we serve.

Posted December 6th, 2007

[shiny1000] 14/12/2007 06:12

I see a bid coming!!!!!

[shiny1000] 13/12/2007 20:36

Sulzer, the Swiss engineering group, said that it does not rule out a renewed takeover offer for Bodycote, its UK rival. Bodycote rejected a £1.1 billion takeover proposal from Sulzer earlier this year as too low. That bid had valued Bodycote at 344.5p per share; the stock now trades at 210p.

[shiny1000] 13/12/2007 20:34

Standard Life - Increases stake to 11.12%Standard Life Investments Limited notified the Company after close of business
on 11 December 2007 that as at 10 December 2007 it now held voting rights in
respect of 36,080,055 shares of Bodycote International plc representing 11.12%
of Bodycote's issued share capital (previously 10.02% on 21 December 2006).
END


I wonder why??????

[shiny1000] 13/12/2007 20:17

I am long and will keep adding, that's my position, I beleive these are now ripe for a takeover!!!

[eastbourne1982] 13/12/2007 00:39

of course you are,

shame you did not state your position 80 - 90p ago, we may have believed you then!!

great trading in hindsight is it not?

[topcar] 12/12/2007 22:40

Iam short from over £3, iam not adding.

[eastbourne1982] 12/12/2007 22:12

take the short then topcar!!

if you look at the 3 - 5 year chart there are plenty of support points between £2.20 and £2,

£1.80 is as likely as a return to £3.20

[topcar] 12/12/2007 21:15

1.80 beckons, break has happened today imo.

[pmitchell] 12/12/2007 14:40

BOY must close above 222p today if it is to keep its long term support line intact.

If it looks like it will close below 222p, then I'm out. However, the U.S. markets have just gapped up and gone through the roof as the Fed has come out with news that it is creating a liquidity plan for the financials.

The FTSE 100 and 250 are surging too; so BOY should recover all of todays losses... In theory!!!

[jules64] 12/12/2007 12:49

BOY...are these getting cheap...sorry about the pun!

[shiny1000] 11/12/2007 00:51

Trading statement on Dec 18th, by all accounts it's a good 'un so a good opportunity to keep buying before we're back upto £3.00 once trading statement is out!!!

[jules64] 10/12/2007 21:58

Moob, I'm piling in whilst the opportunity allows, if you wait too long it might just not exist, this could quickly go.

[moob] 10/12/2007 20:41

wishing to see 180p and then ill pile in

[shiny1000] 10/12/2007 20:34

Ah someone to talk to...yes but BOY makes lots of money and rejected a bid at £3.46!!!!

[tday] 10/12/2007 17:49

Lots of companies are getting hammered - TTG, FKI, WAGN, GAL etc.

[shiny1000] 10/12/2007 06:07

Yes very cheap indeed!