Hayward Tyl Share Discussion Threads

[meijiman] 17/12/2014 09:11

Very useful Cerrito. Thanks. I had been concerned about the oil side of things but it does sound reassuring. He does seem keen on getting the share price up -wonder if he is looking to issue some new paper on the back of it -maybe for an acquisition? Just a thought -but he will not become a Weir by organic growth alone!
I wouldn't see this as in any way negative though-the institutions like nothing better than backing a winner with hard cash -as long as he delivers.

[gargleblaster] 17/12/2014 00:57

Cheers for sharing the info Cerrito

[cerrito] 16/12/2014 21:12

Very upbeat presentation at the Shares Meeting by Lloyd-Baker befitting his role as the biggest shareholder with 8% of the shares.
It was filmed and recorded but could not get clarity of when and whether this will be made available.
Quoted with gusto Finn’s target price and their expectations of eps growth 12.9% this current year and 12.6% for the FY ending 3/16 as I understand it.

Stated his goal to be a mini-Weir as a niche engineering company within the energy sector.
Quite a bit of discussion on low oil price; stated twice that they are late in the cycle so they would not expect to see any effect yet-their direct clients are the equipment manufacturers. Did say that their sub sea pumps business could be insulated from low oil prices as it means less need for rigs and they are in production rather than exploration-not sure how much to believe him, but sounded good. Not involved in fracking business where their wet wound motors are not needed and are more expensive than the dry ones.

The £3.5m Government grant came up-key was job generation and job security as they are in the most deprived ward in Luton which is itself deprived. They are inspected closely on what they are doing; not clear what would happen if they did not fulfil their side of the bargain. The modernization and expansion of the Luton Plant will be key as it will double the operational size of the plant.
A discussion on after market sales; he did however make it clear that they do not have RR type annuity income.
The past due debt they refer to in their KPI’s will be paid in full this week.

[gargleblaster] 16/12/2014 17:24

cheers for info riv

[rivaldo] 16/12/2014 13:45

Here's Finncap's summary of today's news, reiterating their 113p target price:

"Hayward Tyler*: Expansion of Luton facilities (CORP)

"The group has announced that it has started work on the expansion of its main factory site in Luton, which is expected to increase the footprint of the factory by 50%, together with manufacturing efficiencies that will result in a doubling of potential manufacturing capacity. The expansion has been facilitated by the recent award of £3.5m by the Regional Growth Fund. It also announces progress in up-skilling its workforce as part of its Continuous Improvement Programme, utilising funds from the Civil Nuclear Sharing on Growth Grant. These moves are encouraging and affirm the group’s ongoing self-help and growth strategy, with the intention to expand Luton previously flagged to investors.

The shares were marked down yesterday, for no fundamental reason, and now offer a good buying opportunity. The shares stand on an attractive valuation, on a P/E of 9.6x and an EV/EBITDA of 6.2x for 2016. With a maintained price target of 113p, offering 45% upside to the shares, we remain positive and encouraged by today’s announcement."

[meijiman] 16/12/2014 08:58

Yes the market turmoil is not helping. I was looking at a couple more of my holdings this morning-Nanoco and Velocys where positive news has had less impact that might have been expected.
But what a great update. I think they will have a very positive message at the 'Shares' event -very positive all round. This share should re-rate over time.

[shanklin] 16/12/2014 07:51

IMHO, to date, the HAYT share price has got minimal benefits from the two grants they have won. This seems bizarre to me as they are well over 10% of the Mkt Cap.

[rivaldo] 16/12/2014 07:35

Agreed meijiman. Only last month HAYT stated that oil and gas "accounted for only 3% of order intake although it is anticipated that this will increase in H2 2014/15". Just 3%!

Positive update RNS this morning too:

[meijiman] 15/12/2014 11:52

Thinking it through the share price didn't fall much if any last week on the oil price news. They list Statoil/Conoco and Exxon as key customers, and oil and gas is one of their main markets.So maybe someone has honed in on the aspect of their business. Can't say I'm overly worried -don't see massive impact on their pumps orders and they are quite a diversified company in terms of sales.
Be interested to hear if the management has any view on this topic.

[gargleblaster] 15/12/2014 11:28

Ignoring cross trades about 30K sells and 23K buys - so agree with harrywilliam - must be a tree-shake - possibly price massaged down so a buyer can have an order worked.

[harrywilliam] 15/12/2014 11:17

Defo tree shake

[shrout] 15/12/2014 10:40

Tough market conditions. MMs trying to flush out weak holders? Not sure tbh. I guess it's just the market being the market.

If there's no news and no particular volume I tend not to worry too much. Famous last words.

[jeanesy2] 15/12/2014 10:36

But why such a sharp drop today ?

[solarno lopez] 15/12/2014 10:13

its in the wrong sector but great company

[jeanesy2] 15/12/2014 09:55

Why the sudden drop today ?

[jeanesy2] 15/12/2014 09:55

Why the sudden drop today ?

[rivaldo] 01/12/2014 23:06

Excellent summary from WHI which will hopefully get their clients busy buying more. Cheers shauney.

Couldn't summarise it better given 7.4p EPS this year and 8.1p EPS next year:

"Trading on 11x 2015 earnings shares in Hayward trade at a discount to the peer
group yet the outlook for growth is potentially stronger."

[gargleblaster] 01/12/2014 17:11

shauney - thanks for the info

Naos - I think yes this is one to sit tight with - especially now they seem to have/claim to have, cleared up the US problems.

[shauney2] 01/12/2014 15:39

View of Whireland WHISPY

[naos] 24/11/2014 11:28

gargleblaster,

The good thing about this is small buys make the share price move a lot. So, as long as everything stays positive with Hayward, the share price should move a lot higher over the coming months from this point. So, you're right, better to get more while they're this cheap rather than the other side of a £1.

[harrywilliam] 24/11/2014 10:39

I reckon it's the Chinese energy expansion I mentioned the other day. I would think there will be opportunities for hayt in the growing nuclear sector

[gargleblaster] 24/11/2014 10:16

wow over 10% up!

[gargleblaster] 24/11/2014 10:02

Morning riv - maybe tipped somewhere over the weekend?