Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TASTY PLC. We currently have 5 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
N+1 Singer - Small-cap quantitative research - Consistent growth screen refresh + “11 with legs”
29 Sep 16
We have performed a second refresh of our consistent growth screen, first established with our research note of 17 December last year. As previously, the screen produces a basket of 25 stocks that exhibit not only good growth in EPS and sales, but also a consistency of growth in both measures each year. This basket, or style, has underperformed the small-cap benchmark by 9.1% since inception last December, and by 4.8% since the last refresh on 13 April. We highlight stocks leaving and joining the basket and take a closer look at 11 stocks “11 with legs” in the refreshed screen. We will continue to monitor performance of the basket and refresh it again in about 4 months’ time, but interestingly, consistent growth is beginning to look like consistent underperformance!
Consistent Growth Screen refresh + “11 with legs”
15 Apr 16
We have re-run our consistent growth screen, first established with our research note of 17 December last year. As previously, the screen produces a basket of 25 stocks, which exhibit good growth in EPS and sales. The screening criteria address both the quantity AND quality of growth. Since inception last December the consistent growth basket has underperformed the small-cap benchmark by 3.1pp. We highlight stocks leaving and joining the basket and take a closer look at 11 stocks “11 with legs” in the refreshed screen. We will continue to monitor performance of the basket and refresh it again in 3-4 months’ time.
15 Apr 16
ACCESSO TECHNOLOGY GRP PLC (ACSO LN) | CAMBRIA AUTOMOBILES PLC (CAMB LN) | DOTDIGITAL GROUP PLC (DOTD LN) | INSPIRED ENERGY PLC (INSE LN) | IOMART GROUP (IOM LN) | MORTGAGE ADVICE BUREAU (HLDGS) LTD (MAB1 LN) | RENOLD (RNO LN) | SAFESTYLE UK PLC (SFE LN) | SINCLAIR PHARMA PLC (SPH LN) | TASTY PLC (TAST LN) | TRACSIS PLC (TRCS LN) | TRIFAST (TRI LN) | VERTU MOTORS PLC (VTU LN)
New Screen – Consistent Growth + “11 with legs”
17 Dec 15
To represent the theme of “Consistent Growth”, we introduce our second basket of small-cap stocks selected by a screening process. This will sit alongside our first (deep value) basket introduced and described in our note dated 26th May 2015 (Our first screen – 10 deep value stocks to consider). The screening criteria address both the extent AND the quality of growth in EPS and sales, which we consider add a worthwhile additional element to stock selection. The process results in a basket of 25 stocks, the performance of which we will track over time, allowing comparison of investment styles, but also highlighting interesting companies. We have taken a closer look at 11 stocks “11 with legs” (see list on the right) in this screen.
17 Dec 15
BROOKS MACDONALD GROUP PLC (BRK LN) | CAMBRIA AUTOMOBILES PLC (CAMB LN) | DOTDIGITAL GROUP PLC (DOTD LN) | ELEMENTIS PLC (ELM LN) | HAYWARD TYLER GROUP PLC (HAYT LN) | INSPIRED ENERGY PLC (INSE LN) | IOMART GROUP PLC (IOM LN) | MORTGAGE ADVICE BUREAU HOLDI (MAB1 LN) | REDDE PLC (REDD LN) | TASTY PLC (TAST LN) | TRACSIS PLC (TRCS LN) | TRIFAST PLC (TRI LN) | VERTU MOTORS PLC (VTU LN)
05 Dec 16
These interims show LPEs by is ahead of its plan to recruit 360 LPEs by April 2017 and is making impressive progress in Australia. The statement (and we expect the results presentation) provide considerable evidence of Purplebricks’ progress in building its brand, increasing its LPE footprint, developing its technology, creating engaging marketing and selling properties. We leave our forecasts unchanged. Investor confidence in Purplebricks’ ability to deliver sustainable profitable growth should result in share price appreciation towards a valuation based on its results for the year ended April 2019.
Successfully engaging players
06 Dec 16
Stride has a clear focus on online bingo and soft gaming and is growing rapidly, with FY16 l-f-l revenue up 22%. The acquisitions of Tarco and 8Ball at the end of FY16 doubled its share of the UK bingo-led market from 5% to 10% and should deliver material synergies from FY17. Our unchanged FY17 estimates are for 11% EPS growth and strong cash generation. We expect organic growth to be augmented by further accretive acquisitions in due course. Stride’s FY17 P/E is 10.3x and the calendarised EV/EBITDA is only 7.1x, implying considerable share price upside potential.
Joy of Techs
21 Nov 16
ICT evolution is driven by technological development as advances are made which both meet and shape customer requirements. Our 2011 note No such thing as a telco described the modern reality in that former ‘telcos’ now deliver varying elements of a range of managed services. We built on this theme last year, exploring in further detail their evolutionary paths, operating fundamentals, and cashflow yield similarities. In the consumer environment, demand for bundles of technology is complemented by demand for content. Across the pond, the mooted combination of AT&T and Time Warner typifies the bundled need of ‘pipe’ and content, since unbundled alternatives such as FaceTime and WhatsApp can be easier and clearer to chat over, and Amazon and Netflix are easier to watch anywhere. In the UK, BT’s defensive actions cover delivery, content and capabilities, acquiring EE yet also buying football rights. While TV was long ago added to triple play to become quad play, voice is now merely an app, and fixed and mobile seen as just dumb pipes: it's the content that will influence consumer choices. Growth of TV and film as well as music and gaming over IP leads to UK small cap opportunities. In context of the drive to maximise value from pipes and access by offering content and data, we look at some amongst the potential tech small cap beneficiaries: Amino*, Keyword Studios, ZOO Digital*, 7digital*, KCOM* and CityFibre*.
Dominant, defensive and highly cash generative
24 Nov 16
Pets at Home have reported a strong set of interims for the 28 week period to 13th October which highlight the investment strengths. This is a high quality retail business that enjoys a dominant position in an attractive and highly defensive subsector. The company has a pipeline of profitable store openings, reports consistently positive like-for-like growth and is highly cash generative. We therefore reiterate our Buy recommendation and price target of 271p.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m