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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Lavendon Group | LSE:LVD | London | Ordinary Share | GB0005057541 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 269.50 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 269.50 | GBX |
Lavendon (LVD) Share Charts1 Year Lavendon Chart |
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1 Month Lavendon Chart |
Intraday Lavendon Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 07/3/2017 | 17:35 | Lavendon charts and news 2006 | 2,397 |
| 28/8/2015 | 07:24 | The Revival of LAVENDON - for Cherry Pickers | 480 |
| 24/3/2015 | 19:57 | Shares in Lavendon peaked above 500p | - |
| 28/9/2006 | 09:11 | Lavendon group | 244 |
| 10/1/2003 | 00:37 | LVD a great investment opportunity.. | 18 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 20/12/2016 09:22 by dr_smith Cheers XXX I didn't know that...with your posting time, I suggest you sleep on it ;-)I was perplexed this morning, no new bid, share price still at 256-160 range so market still expecting another bid and TVH have been quick to date of placing bids. I can only guess current state of bids is ahead of TVH game-plan, so more meetings/time needed to agree higher price justified and check finance available. IMO..well more a guess.. :-) |
Posted at 28/11/2016 11:18 by qs99 Hey Dr Smith who pulled your chain? not sure what you man by monopoly money or gambling....I Have been in LVD for quite a while now (as you will see) and also again Friday as it looked odd on the bid above the t/o price, I was proved right, what was my downside 1-2p or t/o not going through, I thought the risk was worth taking.....usually the city hears something before PIs do and in this instance that move above the bid looked like a signal....anyway, well done on getting the returns here....brokers reckoned fair value was nearer £2.36 I believe / DYOR etc, so if we do have a bidding war, I sense there may be another 5-10% in the share price from here....let's see...risk is that counter bidders see it as too rich and walk away, again what is the scarcity value for LVD? |
Posted at 27/11/2016 17:46 by gleach23 Midas comment today. I had wondered about Ashtead -Equipment hire specialist Lavendon, which helped to install the Christmas lights in London’s Regent Street, has had an exciting week.On November 21, the company’s share price closed at 139p. The following day, the stock soared to 197p. The reason was a 205p-a-share cash bid from Belgian equipment and parts group TVH. Though the bid looks generous at first sight, it has not been recommended by the board, primarily because certain large shareholders think the price is too low. These include investment manager M&G, which holds almost 19 per cent of the stock. TVH does have support from two large investors, which own just over 12 per cent of the shares between them, and it bought a further 5 per cent in the market last week. But that still leaves an awful lot of shareholders to be persuaded. Midas recommended the stock in April, when the price was 134p. The shares jogged along until last Monday’s offer, but they now sit at 204¼p. TVH has said its offer is final unless a rival bid comes along and there is, of course, a chance that a third party will enter the fray with a higher offer for Lavendon, sparking a bidding war. Some investors may feel like waiting to see what happens and some may feel inclined to follow M&G’s lead and put their faith in Lavendon’s long-term future as an independent company. The issue is further complicated because TVH has said that right now it will only proceed with the deal if investors with 75 per cent of the shares vote in favour, but it reserves the right to reduce this to 50 per cent plus one share at a later stage. Most observers believe the chances of a rescue bid emerging are relatively slim. The most obvious candidate is UK equipment hire group Ashtead, which launched a joint bid for Lavendon with TVH back in 2011. Since then, Ashtead has become increasingly focused on its American division, so there seems little reason for it to bulk out its UK business now. Private equity firms have also been touted as potential white knights, but they are famously reluctant to enter into bidding wars. The share price – hovering just below the offer price – is extremely telling, suggesting that the stock market does not expect a rival bidder. That leaves TVH as possibly the only game in town. Given M&G’s stated antipathy towards the offer, it would be difficult for the Belgians to reach the 75 per cent acceptance level. But, if they want Lavendon badly enough and they hear supportive noises from other big investors, they may go down to the 50 per cent acceptance mark. In that case, their chances of success are significantly bolstered. There is also the possibility that they will walk away entirely. In that case, the shares would almost certainly fall. However, Lavendon’s performance has been improving and analysts believe the stock should comfortably exceed 200p over the next 12 months if the group remains independent. Midas verdict: Investors who bought in April have already benefited handsomely from the bid, so all but the most intrepid should sell out and bank the profit. But the saga is still at an early stage, so adventurous investors may prefer to hold out for a little longer. |
Posted at 24/11/2016 11:50 by jeffian You seem rather a nervous holder, Dr_Smith. If you don't see this as a long-term hold or income play, you need to take the money and run, don't you?The permutations are - * the existing deal is there to be done at 205p. They have already done due diligence and the proposal to proceed via Scheme of Arrangement makes for a straightforward transaction, so low risk of execution. * the fact that the share price is hovering close to, but below, the bid price suggests the market thinks it is still "on" but that a higher competing offer is unlikely. * It also means that there remains the possibility that those institutions who have not been tempted by a bid at 205p may accept an improved offer, but the market is not expecting any improvement by the existing bidder to be more than marginal. Thus, for anyone looking at this purely short-term, there appears to be little upside on the current share price and a likely pull-back if the bid fails. The unknown remains the possibility of a counter-bid, but the market is not expecting one. Long-termers may view the current situation as confirmation of their belief that LVD was undervalued (and maybe still is at the bid price) and be happy to hold on, receiving the dividend while management continue to grow value, although I suppose another long-term strategy might be to sell now, which gives close to the bid price anyway, and buy back in if the bid fails! The Hamilton/Rosberg thing is easier. Rosberg has to suffer engine failure or crash. Come on, Verstappen! |
Posted at 22/11/2016 16:59 by dr_smith Thank-you Aishah and bracke for info I hadn't seen.If the reject notice was circa 10.46 a.m.(or earlier), there is no evidence in the share price through the day to reflect this. so maybe institutions knew of this before trading opened. I remain a holder but don't know what to do at moment. As share price holds at close, it implies institutons are confident of this bid or higher going through. Also close price of 195 to 205 is approx 0.5% gain over say 3 months.I would expect a wider margin to reflect the time and risk of waiting so long..unless this risk is offset by a higher bid. |
Posted at 26/8/2016 12:27 by frankwhite Share price over the last 5 years has been abysmal and stuck between £1-£2, hardly exciting. I have sold my holding into this rise to breakeven. The share price price will float around this price or even come down that I'm sure of. |
Posted at 26/8/2016 09:16 by bpc10 Write up from Paul Scott today on the results:There's only one share that interests me this morning, Lavendon (LON:LVD) , so let's crack no with that. Lavendon (LON:LVD) Share price: 134p (up 7.2% today) No. shares: 169.9m Market cap: £227.7m (at the time of writing, I hold a long position in this share) Interim results, 6m to 30 Jun 2016 - this is an equipment hire group, operating in UK, Europe & M.East. Its niche is powered aerial access equipment - the website is quite interesting, showing all the different types of product which Lavendon hires out. It claims to be the market leader. What interests me is that the valuation seems compelling, compared with other hire companies; Forward PER is only about 6.5 Dividend yield is almost 5%, 3-times covered. It has a strong balance sheet. Equipment hire companies are often on a rating of about 2x NTAV. In this case, the latest NAV figure announced today is £237.9m. Deduct goodwill & other intangibles of £51.7m, arrives at £186.2m NTAV. So 2x NTAV (a fair rating, in my opinion), would give a valuation of £372.4m, or 219p per share - which is my reckoning of where the shares probably should be now. That's a very attractive 63% potential upside, if I'm right about this. Consistently meeting market expectations, yet share price has fallen considerably - this doesn't make sense to me. The market is clearly expecting a big downturn in earnings, but there doesn't appear to be any evidence at all to suggest that is happening, or likely to happen. Looking at today's interim results, the only surprise is a big increase in the dividend - up 18% - so clearly management are confident. Forecasts - Peel Hunt is forecasting 18.7p for 2016, and 19.4p for 2017. However, there is possible upside on these figures, because they have not factored in favourable forex movements. Over half of revenue, profit & cashflows are generated outside the UK. Outlook - there is more detail given, but the key part says; Trading since the half year has continued to be in line with our expectations and, whilst mindful of the recent increased economic uncertainty, the Board remains confident of making further progress in the second half and delivering on its expectations for 2016. That sounds reassuring. I wouldn't be surprised if they deliver full year results ahead of forecast, given the forex tailwind. So why the market is only rating this on a PER of about 6.5, is a mystery to me. Balance sheet - net debt has risen to £148.9m, due to fleet expansion, and forex movements which increase overseas debt when translated into sterling. This really isn't a problem though, and in my opinion the debt is perfectly reasonable when compared with EBITDA and the book value of the hire fleet. When interest rates are this low, it makes sense for equipment hire companies to borrow cheaply, and generate a much higher return from the equipment. The ROCE here is 12.2%, which has gone down a bit, but looks pretty good to me compared with dirt cheap bank debt. I suppose the danger is that such low interest rates may cause hire companies to over-invest, resulting in over-supply of hire equipment, and eventually a plunge in profits when the next recession coincides with over-supply. On a more general level, interest rates being too low, for too long, is likely to lead to all sorts of capital misallocations, with pretty bad consequences eventually. In the meantime however, we can make hay whilst the sun shines. My opinion - to my mind, this stock is just the wrong price. The market seems to be anticipating downturns in Lavendon's main markets, which are just not happening. Bear in mind that Saudi Arabia is a particularly profitable market for Lavendon, but other M.Eastern countries seem to be doing well too, and compensating for some margin reduction there. I'm not madly keen on general hire companies. It's the niche ones which are interesting, such as this. With such attractive valuation metrics, and more positive results/outlook today, I'm feeling very bullish on this stock, and will probably be adding to my position further over the coming weeks. There again, I'm fairly bullish on the economic outlook. If you're bearish on the economic outlook, then hire companies are the last sector you want to be in - as they're very cyclical. Just look at how profits collapsed at HSS Hire (LON:HSS) and Speedy Hire (LON:SDY) recently, although their problems seem to be more about poor management. The trouble is that when revenues do fall, there's an operationally geared impact due to huge, fixed depreciation charges. So i'm not in any way glossing over the risks in this sector. However, in my view the lowly valuation at LVD seems excessively pessimistic, hence why I'm bullish on this share. I see good upside, and lovely big divis to collect in whilst I wait. Ideal really. |
Posted at 20/4/2016 08:14 by 3rd eye Lavendon Group plc 55.1% Potential Upside Indicated by BerenbergPosted by: Katherine Hargreaves 19th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates Lavendon Group plc LON:LVD has a 50 day moving average of 142.63 GBX and a 200 Day Moving Average share price is recorded at 153.64 GBX. The 52 week high for the share price is currently at 211.5 GBX while the year low stock price is currently 120.75 GBX. There are currently 169,711,557 shares in issue with the average daily volume traded being 318,147. Market capitalisation for LON:LVD is £251,597,202 GBP. |
Posted at 15/4/2016 08:42 by 3rd eye Lavendon Group plc 100.7% Potential Upside Indicated by Peel HuntPosted by: Katherine Hargreaves 14th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates Lavendon Group plc LON:LVD has a 50 day moving average of 141.93 GBX and a 200 day moving average of 154.26 GBX. The 52 week high share price is 211.5 GBX while the 52 week low for the share price is 120.75 GBX. There are currently 169,711,599 shares in issue with the average daily volume traded being 307,235. Market capitalisation for LON:LVD is £235,899,123 GBP. |
Posted at 22/1/2016 15:24 by petersinthemarket The long term chart implied that the LVD share price had at last bottomed in February one year ago. That proved to be wrong. Is there any reason to believe things will be different this February? |
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