Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GOOCH & HOUSEGO PLC. We currently have 41 research reports from 3 professional analysts.
|14Mar17 17:40||RNS||Grant of LTIP Award|
|01Mar17 16:43||RNS||Director/PDMR Shareholding|
|28Feb17 08:41||RNS||Director/PDMR Shareholding|
|22Feb17 16:35||RNS||Result of AGM|
|22Feb17 07:30||RNS||Issue of Equity|
|22Feb17 07:00||RNS||Appointment of Non-Executive Director|
|22Feb17 07:00||RNS||AGM Trading Update and Acquisition|
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Research reports on
GOOCH & HOUSEGO PLC
GOOCH & HOUSEGO PLC
N+1 Singer - Gooch & Housego - Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics
22 Feb 17
Gooch & Housego has announced positive market conditions and good trading for the first four months of the year, albeit against a weak comparative, and reiterated its expectations for the year as a whole. The group has also announced a new NED and the acquisition of US based StringRay Optics, which provides bespoke high performance optical assemblies to mainly US customers, predominantly in the Aerospace & Defence sector. This looks to be a good fit for G&H, providing design expertise, cross-selling opportunities and helping to advance the group’s strategy of moving up the value chain. It has been acquired for up to $20m, of which $10m is deferred contingent consideration, representing attractive multiples of c.1.3x historic sales and c.5.6x historic EBITDA (not including the contingent consideration). Management anticipates earnings enhancement in the first full year of ownership (FY18), which we estimate at c.6% based on our initial calculations. We will review our forecasts and target price, which we would expect to upgrade accordingly.
StingRay acquisition and trading update
22 Feb 17
The group has announced a satisfactory trading update ahead of its AGM today, with trading in line with expectations. It has also announced it has acquired StingRay Optics for a total consideration of $20m, which enhances the group’s presence in the important US electro-optic defence sector. The acquisition is 6% EPS enhancing on otherwise unchanged underlying forecasts. We raise our TP from 1050p to 1230p and – due to its premium valuation – maintain our supportive Hold rating.
19 Dec 16
600 GROUP | ACCSYS TECHNOLOGIES | AGGREGATED MICRO POWER HLDGS PLC | ALUMASC GROUP | ANGLO-EASTERN PLANTATIONS | AVINGTRANS PLC | CAPITAL DRILLING LTD | CARCLO | FENNER PLC | FLOWTECH FLUIDPOWER PLC | GLOBAL INVACOM GROUP LTD | GOOCH & HOUSEGO PLC | HARDIDE PLC | HAYWARD TYLER GROUP PLC | IOFINA PLC | M.P.EVANS GROUP | R.E.A. HLDGS PLC | REDT ENERGY PLC | RENOLD | ROBINSON | SOMERO ENTERPRISE INC | SURFACE TRANSFORMS PLC | TRANSENSE TECHNOLOGIES PLC | TRIFAST | ZAMBEEF PRODUCTS
N+1 Singer - Gooch & Housego - Good FY16 growth, forecast to increase in FY17
29 Nov 16
Gooch & Housego reported good growth for FY16, with adjusted PBT up 10%, a little ahead of our estimates. Positive momentum has continued into FY17, supported by a record order book which was up 45% at the year end. Our headline profit forecasts are largely unchanged, although there is potential for upgrades later in the year if current FX rates are maintained and/or further M&A is announced, leveraging G&H’s strong balance sheet. We retain our Buy recommendation.
N+1 Singer - Morning Song 29-11-2016
29 Nov 16
Bagir Group (BAGR LN) Successful delivery of 1st Ethiopian orders | easyHotel (EZH LN) Reassuring finals & tenor | Eckoh (ECK LN) In line interims, US secure payments gathers pace | Ergomed (ERGO LN) PharmInvent acquisition complements PrimeVigilance | Gooch & Housego (GHH LN) Good FY16 growth, forecast to increase in FY17 | ITE Group (ITE LN) No change in trading conditions | MySale Group (MYSL LN) Positive start to year drives upgrades | Oxford BioMedica (OXB LN) Strategic alliance with Orchard Therapeutics | Vp (VP/ LN) Excellent interims, outperforming again
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.