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HFD Halfords Group Plc

3.80 (2.02%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Halfords Group Plc LSE:HFD London Ordinary Share GB00B012TP20 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  3.80 2.02% 191.90 1,190,579 16:35:10
Bid Price Offer Price High Price Low Price Open Price
192.30 193.10 193.10 187.00 187.70
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Retail Stores, Nec 1.59B 34M 0.1553 12.42 422.31M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:03:56 O 75 188.281 GBX

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Date Time Title Posts
30/11/202308:29Halfords thread with charts539
23/2/201709:26Halfords - good value - possible bid??47
31/12/201300:19Hedge Fund - Technical Strategy19
31/12/201300:15HALFORDS: AUTO PARTS better by HALF248

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Posted at 02/12/2023 08:20 by Halfords Daily Update
Halfords Group Plc is listed in the Misc Retail Stores, Nec sector of the London Stock Exchange with ticker HFD. The last closing price for Halfords was 188.10p.
Halfords currently has 218,928,736 shares in issue. The market capitalisation of Halfords is £422,313,532.
Halfords has a price to earnings ratio (PE ratio) of 12.42.
This morning HFD shares opened at 187.70p
Posted at 30/11/2023 07:00 by waldron
Why Halfords shares just crashed 20%

Having recently traded at a one-year high, shares in this bikes-to-car parts retailer have plunged in spectacular fashion. City writer Graeme Evans explains what's gone wrong and what the analysts think.

29th November 2023 15:44

by Graeme Evans from interactive investor



A setback for Halfords Group HFD due to tougher conditions in cycling and tyre markets today failed to dent City optimism that the retail and car servicing business is on the right track.

The shares skidded 43.2p to 185.4p, wiping out this month’s strong rebound as interim results tightened full-year guidance towards the lower end of the previous range.

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Broker Peel Hunt told clients that the share price weakness should be used as an opportunity as it reiterated a target price of 275p. It said: “In our view, management is doing pretty much everything right to control the controllables and the market will turn in time.”

Counterparts at Singer Capital had a similar message after seeing Halfords grow market share across its four segments of retail motoring, cycling, consumer tyres and car servicing.

It also said that the shift to needs-driven services is gaining traction, acting as a buffer to the current pressure on discretionary spending.

While half-year profits rose in line with expectations by 15.8% to £21.3 million and the dividend for payment on 19 January is unchanged at 3p, the outlook has been clouded by weaker big ticket spending and subdued growth in the consumer tyre market.

Singer said: “This should prove to be a bump in the road as real incomes recover, fuel prices reduce and consumer confidence thaws. A cold snap is also imminent. For this reason we are not changing our target price and would buy on weakness.”

Halfords now sees profits for the financial year in the range of £48 million to £53 million, equating to a 5%-6% downgrade on the City consensus. However, the company remains confident in its mid-term plan for £90-£110 million profits as long as conditions stabilise.

Chief executive Graham Stapleton is particularly encouraged by the strong performance of Autocentres, where significantly improved returns have prompted the company to accelerate capital investment in the garage services operating model.

The group is on track to deliver £30 million of cost savings in this financial year, although the City expects April 2024’s National Living Wage will add £5 million to future assumptions.

Investec Securities cut its 2024/25 forecast by 20% today but has maintained its “buy” recommendation with a lower price target of 235p.

The broker said management had a credible long-term vision to become a one-stop-shop for all vehicle ownership, having set out its plans at a capital markets day in April.

Investec added that delivery of these targets would drive higher profitability, implying a sustainable double-digit earnings per share growth story.

It said: “Neither this longer-term growth opportunity nor the strength of its cash generation is reflected in current valuation, in our view, with the market more focused on the short-term weak macro backdrop and need for better visibility on a market recovery.”

These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website.
Posted at 30/11/2023 06:39 by waldron
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Posted at 20/11/2023 19:18 by argylerich
Why are you still invested in HFD kendo? You've done nowt but moan about it for 10 years 🤣🤣
Posted at 20/11/2023 18:54 by kendonagasaki
Imo HfD will need to get at least 2 quarters of positive results if they wish to rebuke any current bid or bids.Then the interested parties may wish to go hostile, but do not hold ones breath just yet...Also my son in law informs e that they have hired a new Retail Director a one Karl Plank.Never heard of him but my son in law has and informs me he is a total and utter moron.Source from his M&S days of debacle.Ho hum... HFD go through a Director of Retail every 15 months like clock work anyhow.Graham Stapleton does not seem to run a tight ship when it comes to keeping quiet about mergers and takeovers does he??I wonder what he told his staff about the news today.PLEASE LET ME EARN MORE MONEY YOU PLEBS AS I PULL THE RUG FROM BENEATH YOUR FEET!!Or did he try and deny it as a rumour when the takeover panel and commission are already aware of it?My oh my how the mind boggles??This is never going to see 3 quid a share again ever imo.Time to sell and get a proper management team in!!I knew I could smell a sell out.And boy! Does GS know how to sell out his investors?Sell!
Posted at 20/11/2023 17:29 by yf23_1
Quelle surprise, HOTC gets taken out for +160%
meanwhile HFD shareprice goes nowhere on merger talks.
Posted at 18/11/2023 17:42 by schofi2
Van rental outfit Redde Northgate has made a £1.4bn merger approach for the high street bike and car repair chain Halfords.

It is understood that the pair have held detailed talks about a possible tie-up after Redde Northgate, which owns 130,000 vans and corporate cars in the UK and Spain, made a firm proposal to Halfords.

A City source said Redde Northgate had proposed a nil-premium merger, but the discussions were abandoned because of disagreements over price. The Halfords board is thought to have concluded that any such deal on the terms laid out would have undervalued the company.

However, it is believed that Redde Northgate could mount a fresh bid if the valuation gap between the two sides closes. It is understood that the Takeover Panel was informed of the discussions, which took place in the last few months.

A source close to the negotiations said: “There were discussions about what an integration of the two businesses might look like but there were questions over the valuations of both companies.

“Both share prices weren’t doing fantastically well at the time so there is nothing live at the moment. However, it could come back.”
Founded in 1892, Halfords is one of the most recognisable and biggest names on the high street. It has roughly 12,000 employees, nearly 400 stores, and close to 650 garages providing full repairs, MOT’s and other services. Its annual turnover was £1.6bn last year.

At current values, a nil-premium merger would value the combined company at close to £1.4bn.

With its shares trading at 365p, Redde Northgate has a market cap of £843m. Halford’s shares were changing hands at 234p on Friday, giving it a stock market value of £512m.

Halfords’ share price is up 8pc this year, but 20pc over the last month. Shares in Redde Northgate have fallen 12pc since the beginning of 2023, but have climbed 13pc in the last four weeks.

For the time being, Halfords has its sights set on much smaller targets. The retailer is among the bidders for Wiggle, the online bike chain that collapsed into administration last month.

Redde Northgate was created during the pandemic when van rental specialist Northgate joined forces with Redde, formerly known as Helphire, which sorts accident claims from businesses and company fleets. It went on to snap up the remnants of vehicle repair provider Nationwide Accident Services.

The company’s customers were historically the smaller end of the market but it has added some large corporate clients including Royal Mail, as well as several government departments and local authorities.

Chief executive Martin Ward has said that its customers prefer vehicle rental over ownership because it provides “flexibility over the cost of owning vehicles”.

In recent years, growth at Halfords has increasingly been driven by its network of car garages, which are more profitable than selling bikes. Sales now represent 40pc of total group turnover compared with just 14pc five years ago.

The company’s stated aim is to become “a motoring services-focused business”. It experienced a boom in cycle sales during lockdown but that soon fizzled out.

Halfords used to be owned by pharmacy giant Boots before it was sold to private equity firm CVC in 2002. It returned to the stock market in 2004.

Redde Northgate and Halfords both declined to comment.
Posted at 17/10/2023 14:26 by yump
What a bonkers take on cause and effect and a sad indictment of how poor our basic science teaching is. The share price movement was insignificant in the context of all the other similar movements in the past.

Just because it coincides with a random bit of press doesn’t mean there is any link at all. Certainly not worthy of any comment from HFD.

Unless you’re in the L Ron Hubbard school of thinking.
Posted at 13/10/2023 14:37 by ashbox
Yes, it's poor form not to have issued a standard RNS either confirming an approach has been made and may lead to an offer or an offer has been rejected. The rumour is in the public domain and had a significant impact on the share price yesterday and today.
Posted at 13/10/2023 10:09 by my retirement fund
hard to believe they could just go on a monumental buying spree, scoop up all those tyre centres at the multiples of premiums and then everything is going to be bright and rosy.

I bet there will be years of skeletons in the cupboards to emerge, could be very painful for share price imo

Anyone can buy profits (1), just like anyone can buy losses (2)! "Skilled" business men can buy profits (but at a premium) (3), but only true entrepreneurs can buy profits at a discount (4)!

Which one of the four did Halfords gold plated salary and pension protected "circuit style" CEO and board choose for you ?
Posted at 12/10/2023 14:17 by casino444
hope it's not bad news , market playing games with the share price again ?
Halfords share price data is direct from the London Stock Exchange

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