Sep 21 2021
Industrials
Recent Research
Holcim, To sell Brazilian business for $1.025bn
Sep 10 2021
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Travis Perkins plc
Return of capital to shareholders to commence in October
Travis Perkins (TPK) has confirmed the imminent completion of the sale of its Plumbing & Heating (P&H) division. This will realise the group’s strategic ambition to streamline its...
Redrow plc
Ambitious 2024 targets complement strong results
Redrow’s full year results are well ahead of already-raised estimates, while the balance sheet is in excellent shape despite significant land purchases. Sales rates continue to moderate,...
European Building Materials
Davy Industrials Conference – roadshow feedback notes
Davy hosted its 13th Annual Industrials Conference last week, featuring many of the key names in the European buildings materials sector. These included CRH, Holcim, Kingspan,...
Holcim
To sell Brazilian business for $1.025bn
Holcim has, as expected, agreed to sell its Brazilian business with a price achieved of US$1.025bn. The disposal is in-line with the group’s strategy to divest non-core emerging market...
Cairn Homes
Upgrading estimates following interim results; raising price target by 2% to €1.52
On the back of strong results, we have increased our forecast EPS for Cairn Homes by c.5% in the FY21-24 period. This has driven a 2% increase in our price target to €1.52. With 33%...
Tyman
Spectrum deal shines a light on Tyman opportunity
ASSA ABLOY’s deal to acquire the Hardware and Home Improvement (HHI) division of Spectrum Brands shines a light on the potential true value of Tyman’s business. The takeout price of...
Cairn Homes
Another upgrade to guidance and increases in order book
Strong demand through the summer has seen Cairn Homes add 220 units to its order book since the start of July. The company will deliver an additional 50 units above its previous...
Grafton Group
Much more than just marginal gains
Having advanced over 75% in the past 12 months, there is the temptation to call time on the run in the Grafton share price. But we think it is still too early. Latest guidance appears...
Vistry Group
Increases guidance again for FY21
Vistry Group has seen a significant rebound in margins in H1 and this has led to another increase in guidance at a pre-tax level. The increase in consensus forecasts should be in the...
Watkin Jones
Further expansion in pipeline achieved
Watkin Jones has been active with forward sales over the summer, securing deals on five sites. The development pipeline has grown by three sites in the period, expanding the future...
