Lookers Plc

-0.40 (-0.49%)
Share Name Share Symbol Market Type Share ISIN Share Description
Lookers Plc LSE:LOOK London Ordinary Share GB00B17MMZ46 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.40 -0.49% 80.90 281,399 16:35:08
Bid Price Offer Price High Price Low Price Open Price
80.50 80.90 83.70 80.50 83.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Motor Vehicles, Motor Veh Eq 4,300.90 73.90 - 4.37 310.18
Last Trade Time Trade Type Trade Size Trade Price Currency
17:55:14 O 2,804 80.897 GBX

Lookers (LOOK) Latest News (1)

Lookers (LOOK) Discussions and Chat

Lookers Forums and Chat

Date Time Title Posts
22/5/202319:50Lookers with Charts & News3,068
19/1/202215:31Takeover time7
19/12/200711:21Why you should look at LOOKERS.PLC321
23/10/200723:51DOG BREATH6

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Lookers (LOOK) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-05-31 16:55:2580.902,8042,268.35O
2023-05-31 16:55:2580.902,3031,863.06O
2023-05-31 16:55:2580.902,1921,773.24O
2023-05-31 16:53:1080.701,6961,368.62O
2023-05-31 16:42:5380.70853688.35O

Lookers (LOOK) Top Chat Posts

Top Posts
Posted at 29/1/2023 00:35 by gargoyle2
Numis 125p target: hxxps://www.etfdailynews.com/2023/01/25/lookers-look-buy-rating-reaffirmed-at-numis-securities/
Posted at 22/1/2023 07:15 by dougmachin
I make the share buy-back currently 1.87% of total shares issued.
About 7.3 million shares bought back. So about 6 million quids worth.
Still quite a long way to go 'til 31st May 2023.
Could end up with 4.5% of shares bought back...

Posted at 11/1/2023 07:41 by daneswooddynamo
Very cheap still. The negative is that it looks like manufacturers are not universally happy at Constellations takeover of Marshall which makes it less likely they will embrace a further consolidation of look
Posted at 08/12/2022 11:40 by insanityideas
Just to illustrate the new car headwind that Lookers have commented on: I recently visited my local Lookers Ford dealership to test drive the Ford Mustang Mach-e. Salesman was really great and knowledgeable and we talked about the wider new car market as well.They are completely sold out of new vehicles, the only ones available with sensible lead times are customer cancellations. Their main job right now is trying to get cars through the ports and into customer hands and they are encountering all sorts of delays to realising this existing sold vehicle pipeline (and therefore cashflow). Anything they sell now they won't see the revenue from for over 6 months because that's Ford's current lead time.I see this as bad for Lookers and bad for customers. Whilst most brands have this problem it's still potential lost sales and a drag on cashflow.As for the Mach-e the base model is £50k and doesn't even have an electrically adjustable drivers seat. It's a nice car, drives better than the VW offerings but is MORE expensive than the Tesla model Y which even in its base model is better equipped.... But the real problem for Lookers: the Mach-e has a 36 week lead time, Tesla were quoting 4 weeks! That is a lost sale for anyone but a rabbid Ford fanatic (up until 2 years ago I only bought Ford, I wish they could do better).As for trade in on my existing Ford, they expected it to be worth 10% less in 36 weeks time than it was at the end of October (when I visited the dealership). So the used market is going through a price correction... I hope they didn't overpay for stock!
Posted at 08/12/2022 11:22 by insanityideas
SMMT also show Tesla Model Y as having 3.1% of those total sales. As Tesla have a direct to customer sales model that is 3.1% of the market that Lookers cannot capture despite being a multi brand dealership.With other manufacturers looking at various options for direct to customer sales I think there is a threat of being cut out of a bigger proportion of new vehicle sales in the future as other companies follow the Tesla example. Although some of these models do still use dealers for delivery to customer it's not going to be as lucrative being the postman.20% of the market was also BEV in November, these vehicles have lower maintenance requirements which will be a hit to service revenue (historically a strong part of their income) over the next 5-10 years. Most manufacturers are still retaining a servicing package which as there are no consumable items (oil and filters) may turn out to be more lucrative in the short term until customers realise that they are being fleeced. - Tesla don't offer servicing, just fix on fail, comparison shoppers will notice this saving.These fundamental changes in the market are a more real threat to the business than unprofitable newcomers like cazoo... Difficult to quantify the impact to investors.Personally I got out of lookers once the share price recovered on takeover rumours earlier this year after holding through all the various scandals and share trading freeze... It's been a profitable investment for me, and as a previous lookers customer I do like the business, but I think these new threats until quantified better make it too risky a proposition regardless of opinion on company valuation verses share price. There is money in cars, but investing in it is tricky IMHO.
Posted at 23/8/2022 17:05 by mrnumpty
Lookers publishes its results tomorrow ( 24th August ) . The shares dropped 4.2% today , but LSE shows there were four times as many shares bought as there were shares sold ( 286,342 shares bought , 80,780 shares sold ) , which is hardly
the first time that this irrational share price movement has occurred here or with other shares . The volumes bought suggest that a lot of people see value here - I wonder whether , with the mysterious drop
in the share price ( ! ) , we’ll see that a major investor buys a chunk at these low prices ! Good luck all

Posted at 23/5/2022 08:43 by dougmachin
Anybody got any idea about the continued fall here?

19.9% of the shares bought ay 102p. That's +56% upside now from here.

250,000+ pounds worth bought recently by the CFO/COO/CEO/NED (in total).



Market sentiment (dare I say it) is having positive days, so not that either.

WTF is going on here... or just a time to top-up?

Posted at 17/2/2022 06:31 by tole
https://citywire.com/funds-insider/news/expert-view-gsk-wpp-sabre-lookers-and-beazley/SVM's Veitch: Lookers undervaluedThe UK motor retail sector has discarded its reputation for being 'dull' and Lookers (LOOK) is one company benefiting from a shift in perception, says SVM's Neil Veitch.The Citywire A-rated manager holds Lookers in his £199m SVM UK Opportunities fund. The stock has benefited from a shortage of new cars, which has boosted the price of used cars in the past year and increased margins on cars sold.'The entrance of new competitors like Cazoo, often valued at elevated multiples, has helped reshape perceptions about the industry's long-term potential,' said Veitch in his latest fund factsheet, adding that Lookers 'has recently seen a marked shift in investment sentiment'.The stock was suspended in 2020 after accounting errors and an internal investigation meant it failed to publish annual results. Since then it has replaced its management team and 'demonstrated strong operational performance'.'Benefiting from the sector tailwinds and disciplined internal cost control, the company's balance sheet has been restored to a net cash position,' Veitch said.The manager added: 'While short-term tailwinds will dissipate and transition towards electric vehicles will bring changes, we believe Lookers is well-positioned. Trading on an estimated 2022 price-to-earnings of less than 9x, the stock appears undervalued.' The shares rose 1% to 95p on Wednesday.
Posted at 08/3/2021 07:29 by jabers1
Lookers PLC Appointment of Non-Executive Director

08/03/2021 7:00am
UK Regulatory (RNS & others)

Lookers (LSE:LOOK)
Intraday Stock Chart

Monday 8 March 2021
Click Here for more Lookers Charts.

RNS Number : 3940R

Lookers PLC

08 March 2021

8 March 2021

Lookers plc

Appointment of Non-Executive Director

Lookers plc, ("Lookers"), one of the leading UK motor retail and aftersales service groups, is pleased to announce the appointment of Paul Van der Burgh to the Board of Lookers as a Non-Executive Director. Paul will join the Board on 1 April 2021 and will be a member of the Audit and Risk, Remuneration and Nominations Committees.

Paul is highly experienced in the global automotive industry, having held senior executive positions at leading multinational brands around the world for over 35 years. He spent 15 years at Toyota and Lexus, most recently as the President and Managing Director of Toyota (GB). Prior to this, Paul held a variety of roles at Ford in the UK and the Americas. Paul has also been an Executive Director of the Society of Motor Manufacturers & Traders.

Phil White, Chairman, commented:

"We are absolutely delighted that Paul will be joining the Lookers Board next month. His track record at both Toyota and Ford speaks for itself. He is well known and highly respected throughout the motor industry for all he has achieved in his career. His in-depth understanding of our industry, combined with his extensive experience, will be a great asset to Lookers as we continue to lift the brakes on the business and look forward to the multiple opportunities ahead. Paul's experience and guidance will be invaluable to us on that journey."

Paul Van der Burgh commented:

"I am thrilled to be joining the Lookers Board at a very exciting time for the business. Having spent most of my career with major global manufacturing brands, I really appreciate the importance of a strong, well located dealership network. I am also well aware of the changing dynamics in the market, not least through electrification and digitisation, where Lookers can further enhance its proposition and prosper in the current environment."

There is no information in respect of Paul Van der Burgh which would require disclosure under Listing Rules 9.6.13(1) to 9.6.13(6) inclusive.

Posted at 01/3/2021 11:32 by jabers1
Investment case summary

▪ Following an extremely difficult period for Lookers over the last 18 months, we believe it is over the worst and is back on the road to recovery. While the market backdrop will remain challenging, we believe the Group is a position to move forward from the legacy issues and refocus on the strategic priorities for the future.

▪ The implied H2 2020 performance gives us comfort that the strategic plan and cost initiatives are working. Lookers announced an adjusted loss of £36m in H1 and is expected to be broadly break even in FY 2020E (we are forecasting a small loss of £1.0m). This implies a H2 profit of £34.5m, although we do acknowledge there was Government stimulus on costs (business rate relief and furlough) to support this outcome. We believe this improvement has not just come from annualised payroll savings of c.£50m but also lower investment in used car stock levels (c.£145m in H1 2020A from £240m in FY 2019A) as well as higher levels of stock turn running at 35-40 days vs. 55-60 days before.

▪ The near-term outlook is likely to remain challenging across the sector, albeit Lookers has used COVID-19 as a catalyst for significant change. Although new coronavirus infections and deaths falling rapidly in the UK and vaccination levels are progressing well, the roadmap out of lockdown 3 is cautious with motor dealerships not fully reopening until 12 April 2021. As a result, sales volumes in March – when the new 21 registration plate comes in – are still likely to be weaker than normal as restrictions are likely to be in place. That said, as we saw last year, once dealerships are allowed to be fully open, pent up demand could re-emerge post-March with data from Auto Trader pointing towards strong interest levels in new cars. Used car margins have remained strong in what we see as a supply constrained market.

▪ The shares have considerable asset backing, with property assets per share of 80.4p as at 30th June 2020 and net assets per share of 63.6p at the same date. Both figures are far
in excess of the current share price due to the company’s poor recent results and the lack of internal controls that led to the restatement of its 2018 figures and its run-in with the FCA.

▪ Lookers has already disclosed that net bank debt (which excludes IFRS 16 property leases and vehicle rental lease liabilities) was approximately £45 million at the end of 2020. This compares with £59.5 million at the end of 2019 and £11.0 million at the end of June 2020. Property lease debt was £135.8 million at 30th June 2010 and vehicle rental lease liabilities were £87.6 million giving total net debt of £234.4 million. In addition to this, the group had
a deficit on its defined benefit pension schemes of £69.5 million at the end of June 2019 and
the “subsequent events” section of its 2019 Annual Report (published on 30th November 2020) discloses that it will step up its deficit reduction payments from £9 million to £12 million
a year, we presume from 2021 onwards. There is a provision of £10.4m for the FCA fine on top of this as well. Consequently, there is no doubt that Lookers has high levels of leverage to contend with at present.

▪ To balance against these risks, we also look at the potential earnings upside if Lookers is able to navigate through this and indeed market conditions improve as we enter in 2022/23 and the impacts of COVID-19 start to recede. Looking further ahead, we believe Lookers is capable of re-emerging as a £5bn revenue group, driven in part by expanding its portfolio with Japanese brands following restructuring, as has been previously mentioned by the group. We have assumed a gross margin of 11.5%, with operating expenses as a % of revenue remaining below 10%. On that basis we can see Lookers achieving a PBT north of £60m, albeit the market would need to be in full recovery mode for this to be achieved. From an EPS perspective this would equate to 13.2p (vs. our 2022E forecast of 9.0p) and implies a P/E below 3.2x at current share price levels. To look at this another way, on a typical mid cycle P/E of 14x, this would equate to 184 per share.

▪ Based on our blue-sky EPS on Exhibit 1 and assuming a P/E multiple range of 8-14x, would suggest a value range of 105-184p per share. Our working (below) shows this analysis discounted back by 5 years to give range based on discount rates ranging from 5-20%. To get back to the current share price based on this analysis implies a mid-cycle PE of 10x discounted by 15%.

Lookers share price data is direct from the London Stock Exchange
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