Caffyns Share Discussion Threads

[jaf111] 28/11/2013 15:38

Yes agreed with you.....but with so much more profit to calculate this time the bean counters may not have enough time so it could be delayed until next week!!!!

Whilst CFYN has moved up in recent months, it's underperformance vs other car dealers very surprising......hopefully the results will lead to a rerating.

[eezymunny] 28/11/2013 15:31

I'm guessing interims tomorrow JAF as they've been on a Fri last few years. Just FYI.

[jaf111] 28/11/2013 14:56

Interims due out any day.....share price revving up nicely helped by some institutional buying......

Results from Cambria very impressive so every reason to be positive.....and CFYN shares remain incredibly cheap by comparison to CAMB or any other quoted motor dealer.

[jaf111] 06/11/2013 10:49

Motoring nicely again.....BUT still a lot more petrol in the tank me thinks!!!!

[eezymunny] 01/11/2013 09:04

Going for it nicely now.

1fox1 I think it's a good example of why sometimes you have to look past the spread. Far too many PI's see it as a problem, primarily IMO because they are unable to put a reasonable valuation on a company and can't see that a fairer valuation is potentially MILES higher than the current one (thus making the spread look somewhat irrelevant in hindsight).

When I bought CFYN you could buy easily in size so I did - and found myself a few grand down with the spread. Not nice but the valuation metrics looked so compelling....

Still think that CFYN can do 80-100p eps and so arguably still very very cheap here. No broker forecasts out there and mine are quite possibly over-optimistic. And of course big pension deficit, a fair bit of debt, family holding of prefs blocking takeovers etc on the downside. And maybe next t/s will be poor but I find that hard to see given updates from all other car dealers.

[jaf111] 01/11/2013 08:55

Starting to play catch-up.....looks like last chance to get in below £5!!!

[coolen] 30/10/2013 20:34

Re. the spread, don't forget you can place orders on the Public Limit Board (sometimes referred to as "Below the Line").

On this particular stock, it sometimes gets fairly active down below.

[1fox1] 30/10/2013 17:25

Agreed, they look very cheap to their peers. Downside is the huge spread need to gain 20p just to return your money.

[jaf111] 30/10/2013 10:44

Seems quite difficult to buy in any size and wide spread....BUT otherwise very attractive / cheap vs other dealers!

Am a holder

[twiggy2] 30/10/2013 10:10

Joined you here this morning. Glad I did looks like it's on the move.

[beazer2] 28/10/2013 17:10

Went into these today on the expectation of a rise to £7. I concur with previous posts that the nav is over £7(adjusted for property revaluation) and if the pension provision reverses when interest rates rise the nav will be over £10. The assets are freeholds of car dealerships in the wealthy south east of England, directors have been buying, the dividend of around 3% is covered 3 times and today Pendragon PDG produced an update of profit above expectations indicating the strength of car sales and servicing and INCH last week confirmed similarly strong levels of activity.

[eezymunny] 05/9/2013 15:42

Re pension liability, worth noting that they say "The discount rate used to value the liabilities is related to the yield on Government securities and this rate has reduced during the year from 5.1% at 31 March 2012 to 4.3% at 31 March 2013, increasing the scheme's liabilities. Each 0.1% reduction in the discount rate increases the liabilities by between £1.0m and £1.5m."

Well the 30 yr gilt yield has moved up from 3.1% on 31 March to 3.7% today. That might already mean a £6-9m reduction in the deficit.

In a non QE world 30yr yield is generally inflation+2%, so that's around 4.5% currently.

A return to "normal" rates would eliminate a lot of the deficit. Indeed, the fund was in surplus yr ending March 2008.

[big7ime] 04/8/2013 21:02

A recovery in the economy and car sales good indicator will be good for share price However, have noticed the rather large (infact massive ) pension fund liability which I'm not keen on. On further research, probably unlikely to be takeover target due to family holding unless they want out, but at this historically low share price doubt that.

[big7ime] 02/8/2013 10:06

I think Everyone's on their holidays
Inchcape (INCH) reports excellent trading this morning and the sirs are taking off!
Sept may see similar move here IMHO

[big7ime] 02/8/2013 08:04

Caffyns yesterday bought it's own shares again. Cheap as chips and don't they know it.

[big7ime] 02/8/2013 07:36

Takeover target? At this price as with HR Owen car dealership recently, looks very undervalued. HR Owen having similar increases in sales has seen it's share price double in last 12mths. A Philipine investment co has bid for it. Caffyns price trades on prosp p/e around 9 which is historically very low and should increase as business levels continue to recover Dyor

[big7ime] 01/8/2013 14:27

Mr Bruce-Smith has increased his holding to 6.6% in the company. He must also believe this share is undervalued at present. IMO an increase to £7 in not too distant future would be fairer value in line with sector.

[big7ime] 31/7/2013 07:52

Properties not currently being sold are undervalued in balance sheet by 4.5m, and with those up for sale could provide a windfall for the company to reduce debt/ use to redevelop their sites.

[big7ime] 29/7/2013 09:22

sales increasing 22%, if profits also increase by this percentage, would have a p/e less than 10. The dividend is currently 2.9% dyor

[big7ime] 26/7/2013 08:11

Positive Agm statement, all directors purchasing shares recently, sales up 22%. could be the start of a recovery for this provincial car dealership - own franchises for Audi, volkswagon, skoda and others in south England. Sp very low compared to assets, were £11 10yrs ago, see chart, own their properties where book values are conservatively est, plans to sell some, takeover target maybe. Worth a punt IMO

[simon templar qc] 04/5/2012 14:51

Been missed by a lot today good luck guys I will be watching this with interest...

[ed 123] 04/5/2012 13:46

Ooooooooooooooo, yes. Fight! Fight! Fight!

To mix metaphors, the Caffyns' golden goose is withering on the vine.

[simon templar qc] 04/5/2012 13:12

Shareholder action good look guys...