Croda Share Discussion Threads

[miata] 14/5/2013 13:31

Looking back on a multi-year basis there does seem to be a fairly consistent straight line wiggle corridor.

[broadwood] 14/5/2013 11:32

Getting a nice wiggle on.

[miata] 10/5/2013 19:53

10 May Croda... CRDA Morgan Stanley Overweight 2,485.00 2,468.00 2,850.00 2,850.00

[broadwood] 01/5/2013 08:14

XDiv today

[broadwood] 26/4/2013 07:37

HB Markets Croda International PLC 26/04/2013 Reiterates Buy Buy 0 2,588.00 0 2

[miata] 25/4/2013 08:09

Solid. No excitement. Positive outlook.

However P/E of 22 and yield of 2.3%, mean its fully priced.

[broadwood] 25/4/2013 08:08

Consistent as ever.

[broadwood] 25/4/2013 07:40

Speciality chemicals manufacturer Croda Interntional ramped up first-quarter pre-tax profit and expects to report further progress in 2013.

Pre-tax profits for for the period since December 31st 2012 rose 6.5% to £65.1m despite strong comparatives and the adverse impact of an earlier Easter this year. Group turnover grew modestly to £283.1m from £281.9m in 2012. Operating profits rose 4.0% to £68.0m.

Across its divisions Consumer Care sales were little changed at £158.4m from £159.1m previously, with Crop Care weaker due to the poor weather experienced in a number of regions throughout the period.

Personal Care and Health Care sales were flat and Performance Technologies sales slipped 0.3% to £102.4m, after continuing weakness in Lubricants. Industrial Chemicals sales jumped 10.4% at £22.3m.

Croda said there has been no significant change in its financial position during the period.

At the end of March 2013 net debt was £211.1m, up £3.4m versus the year-end despite a payment of £38m into the UK pension fund in January.

"The Board believes that the Q1 result represents a solid start to the year. The outlook provided in February is unchanged and we expect to report further progress in 2013," it said in a company statement.

[broadwood] 25/4/2013 07:08

Results look solid enough.

[miata] 16/4/2013 09:19

If only the market took as much notice of Berenberg as it does of Goldmans or Credit Suisse.

Croda International's stock had its "buy" rating reiterated by investment analysts at Berenberg Bank in a note issued to investors on Tuesday, Stock Ratings Network reports. They currently have a GBX 3,200 ($49.09) target price on the stock, up from their previous target price of GBX 2,700 ($41.42).
Croda International opened at 2581.00 on Tuesday. Croda International has a 52-week low of GBX 1998.0 and a 52-week high of GBX 2846.0. The stock's 50-day moving average is currently GBX 2399.89. The company's market cap is £3.465 billion.

Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a "neutral" rating on shares of Croda International in a research note to investors on Thursday, April 11th. They now have a GBX 2,599.60 ($39.88) price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Croda International from GBX 2,349.64 ($36.05) to GBX 2,399.63 ($36.82) in a research note to investors on Wednesday, April 10th. They now have a "hold" rating on the stock. Finally, analysts at Canaccord Genuity reiterated a "sell" rating on shares of Croda International in a research note to investors on Thursday, April 4th. They now have a GBX 1,881.53 ($28.87) price target on the stock.

One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of "Hold" and an average target price of GBX 2,548.06 ($39.09).

[broadwood] 16/4/2013 08:29

Pretty happy with that TP!

Berenberg Croda International PLC 16/04/2013 Reiterates Buy Buy 0 2,700.00 3,200.00 2,576.00 500 2

[broadwood] 12/4/2013 13:45

Shares of Croda International PLC dropped 2.8%, as UBS cut the chemicals firm to sell from neutral.

[miata] 12/4/2013 10:54

478,017 shares given to employees at nil cost.

[broadwood] 20/3/2013 10:22

Up again. That Goldmans' TP doesn't do any harm.

[miata] 18/3/2013 16:56

Several brokers commented :

Analysts at Bank of America upped their price target on shares of Croda International (LON: CRDA) from $37.76 (2500 GBX) to $43.81 (2900 GBX) in a research report issued to clients and investors on Friday. The firm currently has a "buy" rating on the stock.

Several other analysts have also recently commented on the stock.

Analysts at Morgan Stanley raised their price target on shares of Croda International from $40.32 to $42.56 in a research note to investors on Monday, March 11th. They now have an "overweight" rating on the stock.

Separately, analysts at Credit Suisse reiterated a "neutral" rating on shares of Croda International in a research note to investors on Tuesday, March 12th. They now have a $38.83 price target on the stock. Finally, analysts at Mirabaud Securities raised their price target on shares of Croda International from $40.32 to $42.56 in a research note to investors on Friday, March 8th. They now have an "overweight" rating on the stock.

Croda International (LON: CRDA) opened at 2666.00 on Friday. Croda International has a 52-week low of GBX 1998.0499 and a 52-week high of GBX 2705.00. The stock's 50-day moving average is currently GBX 2399.89. The company's market cap is £3.588 billion.

[broadwood] 18/3/2013 16:54

Miata - ta.

[miata] 18/3/2013 16:53

Five year chart

[broadwood] 18/3/2013 16:33

That five year chart shows just how far this share has come.

Superb - another broker note on the way after today's performance?

[broadwood] 18/3/2013 08:14

Swimming nicely against the tide today - so far.

[broadwood] 12/3/2013 16:14

Higher highs every day.

[broadwood] 06/3/2013 08:31

Still getting Broker inspired pops..

[broadwood] 28/2/2013 07:33

So do Goldmans. And TP increased.



Goldman Sachs Croda International PLC 28/02/2013
Retains
Conviction Buy Conviction Buy 0 3,150.00 3,200.00 2,555.00 50 2

[broadwood] 27/2/2013 07:28

Questor says Hold, I say BUY.



Croda International

Yet again Yorkshire-based speciality chemicals group Croda has posted record sales, margins and profits, with the numbers coming in better than the City expected.

FTSE 100-listed Croda manufactures chemicals which are sold to virtually every type of industry. Its products are used in face creams and lipstick, as well as in lubricants and processed vegetable oils.

The company is relatively defensive, since its beauty product components are bought through boom and bust. The company has also been focusing on higher-margin speciality chemicals, and has been moving out of its more commodity-type business, where prices fluctuate due to current perceptions of supply and demand. Indeed, the increase in sales was driven by volume growth of 2.3pc and an increase in its margin from to 24.3pc from 23.1pc.

However, management says that sustainability has emerged as a key driver of its business. Around 70pc of the raw materials used by Croda are now natural raw materials, with its customers driving their increased use as they try to make their products more sustainable to produce in purer, safer forms. This trend is likely to accelerate over time.


In the year to December, revenues rose to £1.05bn from £1.03bn in 2011, with pre-tax profits up 6.6pc to £253.2m.

Last year management changed the group's dividend policy so that the company pays out between 40pc and 50pc of "sustainable earnings". This meant the group increased its payment by almost 60pc in 2011. This year's rise is more modest, with the total rise being 8.2pc to 59.5p, representing a payout ratio of 46pc. The final payment of 32¾p will be made on May 31.

The core consumer care business and performance technology operations were strong, despite significant currency headwinds. These foreign exchange issues are now easing, as sterling weakens. Questor continues to expect that the pound will remain relatively weak.

The company continues to innovate and 50pc of the growth in sales in consumer care over the past year came from new specialist products. Its performance technology business has used the sustainability trend to develop new products that can be used in oil recovery and green cleaners, for example.

Sales at its smallest unit, industrial chemicals, fell 0.4pc to £82.7m and operating profit fell 8pc to £10.3m. This reflected high raw material prices and competitive commodity and textile markets, though Croda said it expected an improving trend in the second half of the year.

The company's balance sheet remains robust and net debt was reduced by £23.4m to £207.7m over the year and its pension deficit was reduced.

The shares are trading on a 2013 earnings multiple of 18.9 times, falling to 17.2 next year. This is definitely not cheap. However, this company is well managed and its transformation away from low-margin and volatile commodity operations will increase its defensive profile further.

Questor initially tipped the shares at 389¾p on December 8, 2008 and they have risen by more than 560pc over the past few years.

Earnings forecasts are likely to rise, but given the wider market uncertainty created by the inconclusive Italian elections, Questor is happy with a hold rating

[miata] 26/2/2013 14:55

Why? - Seasonality perhaps - it does seem to do better in the first two quarters than in the last quarter when a lot of others seem to perform best.