Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on FOCUSRITE PLC. We currently have 39 research reports from 4 professional analysts.
|10Jan17 14:46||RNS||Result of AGM|
|10Jan17 07:00||RNS||AGM Statement|
|07Dec16 16:28||RNS||TR-1: Notification of Major Interest in Shares|
|05Dec16 15:13||RNS||Director/PDMR Shareholding|
|05Dec16 07:00||RNS||Appointment of Chief Executive Officer|
|24Nov16 17:09||RNS||Director/PDMR Shareholding|
|22Nov16 18:15||RNS||Director/PDMR Shareholding|
Frequency of research reports
Research reports on
Trading update confirms established positive patterns continue
10 Jan 17
Today’s strong trading statement should please the market on multiple levels; (1) it confirms the continuation in November and December of the positive evenue momentum reported for the September and October period, itself a continuation of the strength seen in H2 (March-August) FY16; (2) we understand that the underlying positive trading momentum has been further boosted by favourable currency movements (c.50% of TUNE’s revenues are US$-based, c.25% are €-denominated), and; (3) it confirms that the strong cashflow generation momentum continues to rebuild, thereby addressing a key investor question around the FY16 results i.e. that cash declined by £0.6m to £5.6m, despite double digit improvement on almost all other key financial metrics. Despite the strong recent run (+27%) since the FY16 prelims on November 22, we maintain our BUY given the underlying trading momentum indicates that TUNE continues to make good, considered further progress on its already proven growth strategy.
Positive momentum on trading and cash
10 Jan 17
Trading for the four months to end December continued the positive trend of the first two to October. We understand that both constant currency trading and exchange rates have been favourable. Cash has also grown encouragingly, reflecting net receipts from the strong sales in late FY16 as well as early FY17. Recent softness in the shares represents excellent medium-term value for a niche market leader with positive growth.
Product quality and management depth
07 Dec 16
Yesterday Focusrite held a capital markets day, designed to showcase the range and quality of products and introduce operational management, which shares a passion for music-making and has deep knowledge of the products. This contributes to excellent product support, software innovation and thus customer loyalty, which should sustain the company’s brand leadership.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
A compelling global brand roll-out story
22 Feb 17
We believe that SuperGroup remains one of the most undervalued global brand roll-out stories within the UK retail sector. The stock trades at c20% discount to its UK peers on a 1YF EV/EBITDA basis despite best-in-class revenue growth and profit margins. SuperGroup operates a leading multi-channel proposition, has strong sales momentum across each channel and forecast risk remains on the upside. We initiate coverage on the shares with a buy recommendation and price target of 1898p, implying upside of 27.8% over the prevailing market price.
Root & branch review – early margin positive
23 Feb 17
Unilever (ULVR LN, HOLD, T/P 3800p) announced yesterday that it will publish the findings of a root and branch review in April 2017. This is stated as being a result of the recent approach made to them by KraftHeinz (KHC US, N/RO), an offer which quickly lapsed.
High single digit EPS growth remains on track
17 Feb 17
BAT (BATS LN, HOLD, T/P 5300p) announce their preliminary 2016 results on Thursday 23rd February. We forecast revenue to increase 13% to £14.8bn, in line with Bloomberg consensus, and adjusted diluted EPS to continue its positive momentum to 249p (232p FY2015). Analyst consensus is 246p.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management