Davy Research

Construction and Housebuilding

Key stock picks and sector themes for 2018
Construction and Housebuilding
SIG plc | CRH | Taylor Wimpey plc | Travis Perkins plc | Geberit | Saint-Gobain Group | Persimmon plc | Bovis Homes plc | Barratt Developments plc | Ibstock plc | Buzzi Unicem | Cairn Homes | Redrow plc | Ferguson | Abbey | Grafton Group | Breedon Group | Wienerberger | Berkeley Group | HeidelbergCement AG | Glenveagh Properties | Kingfisher | LafargeHolcim | Howden Joinery | Forterra plc | Kingspan Group

DAVY VIEW

This report examines the themes we expect to dominate the European building materials and construction sector in 2018. Our stock-picking criteria remain focused on quality (cash generation, proven management, earnings momentum) and company-specific opportunities (strategic initiatives, structural growth). Our key picks include Kingspan, CRH, Kingfisher and Glenveagh Properties.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Abbey

    Closing Price: 1460c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

  • Barratt Developments plc

    Closing Price: 65780p

  • RATING 24/03/14

  • PREVIOUS RATING 10/09/13

    Outperform

  • Berkeley Group

    Closing Price: 422500p

  • RATING 10/09/13

  • PREVIOUS RATING 21/05/13

    Under Review

  • Bovis Homes plc

    Closing Price: 119000p

  • RATING 10/09/13

  • PREVIOUS RATING 21/05/13

    Under Review

  • Buzzi Unicem

    Closing Price: 2386c

  • RATING 04/04/16

  • PREVIOUS RATING 05/08/15

    Neutral

  • CRH

    Closing Price: 3107c

  • RATING 23/05/12

  • PREVIOUS RATING 12/01/12

    Neutral

  • Geberit

    Closing Price: 43670

  • RATING 08/05/14

  • PREVIOUS RATING 09/11/12

    Underperform

  • Grafton Group

    Closing Price: 80500p

  • RATING 15/12/15

  • PREVIOUS RATING 07/09/15

    Neutral

  • HeidelbergCement AG

    Closing Price: 9250c

  • RATING 16/06/17

  • PREVIOUS RATING 05/02/14

    Neutral

  • Kingspan Group

    Closing Price: 3888c

  • RATING 12/05/11

  • PREVIOUS RATING 30/06/09

    Neutral

  • LafargeHolcim

    Closing Price: 5800

  • RATING 17/11/15

  • PREVIOUS RATING 29/07/15

    Neutral

  • Persimmon plc

    Closing Price: 277800p

  • RATING 10/09/13

  • PREVIOUS RATING 21/05/13

    Under Review

  • Redrow plc

    Closing Price: 66450p

  • RATING 10/09/13

  • PREVIOUS RATING 21/05/13

    Under Review

  • Saint-Gobain Group

    Closing Price: 4777c

  • RATING 07/09/15

  • PREVIOUS RATING 03/09/14

    Neutral

  • SIG plc

    Closing Price: 17450p

  • RATING 01/07/16

  • PREVIOUS RATING 15/12/15

    Outperform

  • Taylor Wimpey plc

    Closing Price: 21120p

  • RATING 10/09/13

  • PREVIOUS RATING 21/05/13

    Under Review

  • Travis Perkins plc

    Closing Price: 158750p

  • RATING 01/07/16

  • PREVIOUS RATING 20/10/14

    Neutral

  • Wienerberger

    Closing Price: 2082c

  • RATING 09/01/17

  • PREVIOUS RATING 17/02/16

    Outperform

  • Howden Joinery

    Closing Price: 46710p

  • RATING 29/01/15

  • PREVIOUS RATING N/A

  • Kingfisher

    Closing Price: 33960p

  • RATING 02/10/17

  • PREVIOUS RATING 01/07/16

    Neutral

  • Cairn Homes

    Closing Price: 192c

  • RATING 26/08/15

  • PREVIOUS RATING N/A

  • Ibstock plc

    Closing Price: 26500p

  • RATING 04/08/17

  • PREVIOUS RATING 19/08/16

    Outperform

  • Forterra plc

    Closing Price: 29550p

  • RATING 19/08/16

  • PREVIOUS RATING N/A

  • Breedon Group

    Closing Price: 8580p

  • RATING 25/10/17

  • PREVIOUS RATING 06/03/17

    Outperform

  • Glenveagh Properties

    Closing Price: 119c

  • RATING 10/11/17

  • PREVIOUS RATING N/A

  • Ferguson

    Closing Price: 7365p

  • RATING 10/11/17

  • PREVIOUS RATING N/A

Analyst(S)

Construction and Housebuilding

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