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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
  +0.00p +0.00% 269.50p 0 05:00:01
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 248.65 16.16 4.91 54.9 464.6

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Date Time Title Posts
07/3/201717:35Lavendon charts and news 20062,397
28/8/201507:24The Revival of LAVENDON - for Cherry Pickers480
24/3/201519:57 Shares in Lavendon peaked above 500p -
28/9/200609:11Lavendon group244
10/1/200300:37LVD a great investment opportunity..18

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Lavendon (LVD) Top Chat Posts

gleach23: Counterbid coming in from Loxam?! I did wonder why the Mail article above described Friday's share price as 'extremely telling' in that a rival bid would not come in - for me, and as suggested in earlier posts, the price action on Friday afternoon suggested the opposite.
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.
rivaldo: Encouraging to see almost 10m shares traded - with presumably lots of profit-taking - and despite this the share price rising through the day, which perhaps suggests some further interest here. Of course it could be TVH buying up shares themselves.
spud: I guess the Management are worried about their continuing positions/employment. They've not exactly been successful in proactively promoting the Company as reflected by an ongoing languishing of the share price over a number of years & if it was me, i'd put each and every one of them under the microscope. I'm all for the 205p bid. Any more is greedy. I'm just not prepared to take the hit on the MMs Bid. spud
qs99: indeed. these punters either are very useless and/or their IR team cannot just get the story across to the city. Year later and we are still at same price.....but RNS statements seem to point to a better future yet IMO the city are not (as yet) buying into it, hence the stagnant share price....hopefully someone else will come in and put us out of our misery!
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.
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.
paulypilot: The H1 figures should be fine - as the company issued a positive update quite recently, on 14 July 2016: The disconnect between trading updates (consistently positive), and the share price (relentlessly falling, apart from recent rebound) has been remarkable here. Still, it gave us a chance to load up with cheap shares, so I'm not complaining - my avg buy price is now down to about 124. With a good solid company, I find that averaging-down can be a very successful strategy. It's only a mistake with speculative stuff, or thing that are going down the pan. This is neither. Regards, Paul (long LVD)
3rd eye: Lavendon Group plc 55.1% Potential Upside Indicated by Berenberg Posted by: Katherine Hargreaves 19th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at Berenberg. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Berenberg have set a target price of 230 GBX on its stock. This would imply the analyst believes there is now a potential upside of 55.1% from today’s opening price of 148.25 GBX. Over the last 30 and 90 trading days the company share price has increased 3.75 points and increased 23.25 points respectively. 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.
3rd eye: Lavendon Group plc 100.7% Potential Upside Indicated by Peel Hunt Posted by: Katherine Hargreaves 14th April 2016 Lavendon Group plc using EPIC/TICKER code LON:LVD had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at Peel Hunt. Lavendon Group plc are listed in the Industrials sector within UK Main Market. Peel Hunt have set a target price of 275 GBX on its stock. This now indicates the analyst believes there is a possible upside of 100.7% from the opening price of 137 GBX. Over the last 30 and 90 trading days the company share price has decreased 9.25 points and increased 5 points respectively. 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.
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