Premier Technical Services Share Discussion Threads

[robow] 14/6/2019 08:43

and Questor gives an update in The Daily Telegraph

When we tipped Premier Technical Services Group (PTSG) in April last year we described it as “boring”. The share price graph since then has been anything but, although unfortunately in the wrong direction.

David Stevenson of Amati Global Investors, whose holding in the firm prompted our tip, said three factors had contributed to the shares’ 44pc fall: questions about the “quality”; of profits, in relation to exceptional items and cash conversion; a “bear raid” by a hedge fund; and concern over the way certain property assets of companies it had acquired were transferred to another firm controlled by two PTSG directors.

“Its underlying businesses continue to progress through organic growth and acquisition,” Stevenson said. “We think some of the concerns over earnings ‘quality’; are overdone, because exceptional costs and low cash conversion are par for the course when you acquire companies, especially if they are undergoing a turnaround. Likewise we believe that the hedge fund made the most of its bear case.

“We are more worried about potential failings in corporate governance over the property sales. An independent surveyor is reviewing this and we will await their report.”

He added: “PTSG is very efficiently run, but the stock is on the naughty step now. However, we see the shares as potentially oversold.”

Questor: hold

Ticker: PTSG

Share price at close: 99.5p

[rivaldo] 14/6/2019 07:41

Unsafe cladding is back in the news this morning - hopefully this will accelerate the removal process:



"Grenfell Tower: Hundreds of buildings still have 'unsafe' cladding

More than 200 high-rise buildings in England with cladding similar to that used on Grenfell Tower have yet to begin work to remove it.

Out of 328 buildings that still have aluminium composite material (ACM) cladding, 221 are awaiting work to start.

etc"

[ewanwhose] 13/6/2019 20:31

It is difficult when a company is doing lots of acquisitions but I am happy for the moment to give the accountants the benefit of the doubt and say the 200p from last year plus the benefits of the acquisitions since. I would have to sell some on the way up for portfolio management reasons but still see myself having a holding at 250p.I also see this a a more 'solid' balance to the speculative tech and biotech investments I have.

[gripfit] 13/6/2019 14:29

whats target rivaldo ??

[gripfit] 13/6/2019 14:20

cant buy online .......

[rivaldo] 13/6/2019 14:19

Good to see the first buy at 100p coming in a few minutes ago.

[castleford tiger] 13/6/2019 11:09

just 3000 left then its 100p

[onjohn] 13/6/2019 08:02

nice 25k buy

[onjohn] 13/6/2019 08:00

Early buyers will get the rewards today

[onjohn] 13/6/2019 07:20

Massive gap to 200p on chart

[rivaldo] 12/6/2019 22:53

Great to see 40,000 shares bought at 98p when the offer price was only 93p/94p in late afternoon. With a series of other 10k buys before and after that it's no wonder the close was so strong. It would seem there's a keen buyer/buyers out there.

[eezymunny] 12/6/2019 22:11

Share prices don't grow.
Tomatoes grow.

[sherlock13] 12/6/2019 20:24

If the share price keeps growing this week then they should change Premier to Phoenix...I’m keeping the faith in these guys for now, I bought in a while back at a much higher price and been buying to lower my average, the recent drop was very worrying but their historical performance is impressive. The company seems to be in a hurry to grow, maybe at a cost of helping investors see the true potential and generate some trust, hope the AGM addresses this and gives a clear and simple view from today’s base - with a full year projected benefit of the larger acquisition they did at the end of last year then their 2019 should really jump up even without organic growth on top, still looks cheap to me if margin and cash improvements match sales but time will tell. let’s see what attitude the company has at the AGM after their turbulent spell...

[onjohn] 12/6/2019 19:35

Massive gap to 200p on chart

[middlesboroughfc] 12/6/2019 16:27

nice move into close


who will pay 100p first

[middlesboroughfc] 12/6/2019 16:17

Waded in some more
Roll on 165p where they had the placing I says

[middlesboroughfc] 12/6/2019 15:54

Waded in today

[castleford tiger] 12/6/2019 15:19

Looks like i timed my initial purchase pretty close to the bottom.

I am going monday to see what this is all about.

On paper it looks very cheap
tiger

[onjohn] 12/6/2019 14:24

Pe of 10 is 137 p target


So ridiculously cheap

[rivaldo] 12/6/2019 10:55

Good to see the bounce continuing.

The AGM is on 17th June, so not long to go. We should get another update to follow on from the very positive trading update in early May.

With 13.6p EPS forecast this year, PTSG at 91p remain on a P/E of only 6.7.

[nobilis] 11/6/2019 23:51

In a hurry to get over 100p