Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CLEARSTAR INC. We currently have 6 research reports from 2 professional analysts.
|20Apr17 14:28||RNS||Holding(s) in Company|
|19Apr17 07:00||RNS||PDMR Shareholding|
|12Apr17 07:00||RNS||PDMR Shareholding|
|04Apr17 07:00||RNS||PDMR Shareholding|
|31Mar17 07:00||RNS||Director/PDMR Shareholding|
|28Mar17 07:00||RNS||ClearStar agreement with IntelliCentrics|
|28Mar17 07:00||RNS||Full Year Results|
Frequency of research reports
Research reports on
Small Cap Breakfast
28 Mar 17
Path Investments—Publication of prospectus from the Energy Investment Company. Raising £1.4m. Admission due on or around 30 March | Franchise Brands—Schedule 1 detailing £28m reverse takeover of Metro Rod. Admission expected 11 April | Alpha FX Group— Schedule 1 from the foreign exchange provider focused on managing exchange rate risk for UK corporates that trade internationally. Fundraise TBC. Admission expected 7 April. | K3 | Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. | Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Tufton | Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
Building a background for growth
28 Mar 17
The prelims are largely as expected, with exceptional 77% organic sales growth in Direct Services offset by attrition of the clients and revenues bought with SingleSource to leave that business flat YoY. Slower growth in channel and CRA operation saw group revenue rise 3% overall while the cost base was controlled to see a reduced loss while the business prepares for much stronger performances in the years ahead. Without the headwind of SingleSource and with a strengthened sales team, the direct services business should power better company revenue growth this year, augmented by the new ‘Sphere’ global platform, which has already started to contribute. With a streamlined operation, plenty of cash, an improving employment market and a new employee-screening partnership with IntelliCentrics, ClearStar is well positioned to deliver long-term success.
27 Sep 16
Victoria* (VCP): May the floors be with you (CORP) | ClearStar* (CLSU): Screening Buy (CORP) | Avingtrans^ (AVG): FY results – at the fulcrum of change (BUY) | Netcall* (NET): Prelims show strategic progress (CORP) | Alternative Networks* (AN.): Year-end trading update (CORP) | Universe* (UNG): Project delays break up party (CORP)
27 Sep 16
We initiate coverage on a long-established, well-managed and well-funded US company in the steadily growing global background-screening market. ClearStar is taking advantage of a highly competitive technology platform, an impressive existing customer base and excellent long-term prospects. It has traditionally supplied its solutions and services through channel partnerships, which see large volumes and high levels of recurring revenues. However, it has been investing in developing a direct business which offers higher growth and improved gross margin, through an opportune direct service acquisition in late 2014, augmented with additional sales and support investment. The interims show the original (pre-acquisition) direct business has doubled YoY as a result, improving margins and pushing the company towards profitability. Furthermore, since 2014 it has been developing a global platform which will allow it to reach beyond its current US market. Post the 2014 IPO, results were impaired by the unexpected acquisition and investment in new products so the shares have drifted to a point where there is significant value for new investors. Comparable market peers currently trade on an average EV/Sales multiple of 2.2x; even discounting this by 25% derives a 60p target price, more than 40% uplift on the current valuation.
The Cybersecurity Rebellion: “No, I’m Spartacus!”
07 Jun 16
Steve “Woz” Wozniak, infamous co-founder of Apple, was the latest culprit to send shivers across the tech world by claiming Cybersecurity is the greatest threat the world has faced since the atom bomb. Mr Wozniak was alluding to the heightened sense of fear that recent high profile breaches have caused Cybersecurity to be put at the forefront of political, corporate and now it would appear, investor agendas. As the topic gains increasing awareness, it gives rise to a number of companies claiming to be a “thought leader” in the Cybersecurity space, holding the best IP and the best routes to market. With many companies singing from the same loss making hymn sheet it is making it ever difficult to spot the true “Spartacus” from the crowd.
Earnings upgrade following acquisition
17 Apr 17
Following the recent acquisition of Ingresso we upgrade our estimates by c10% in 2017. Ingresso owns and operates a software platform which enables sales through global third party distribution channels. This looks another smart acquisition by ACSO who continue to create a more efficient flow in the extremely fragmented leisure and ticketing industry. We increase our T/P to 2000p and upgrade to BUY.
N+1 Singer - Servelec Group - Calling the bottom
20 Apr 17
We are increasingly confident that Servelec’s travails are behind it and the business is returning to growth. Recent share price weakness looks unwarranted in this context and the valuation now looks compelling. Our forecasts are essentially unchanged, but we see medium term upside as the group’s markets improve. Servelec remains a key idea for 2017 and we reiterate our Buy recommendation and 325p Target Price.
N+1 Singer - Morning Song 24-04-2017
24 Apr 17
First Derivatives (FDP LN) FY slightly ahead as strong trading momentum continues | Goals Soccer Centres (GOAL LN) A potentially exciting corporate development | mporium Group (MPM LN) 2016 results: course set for exciting 2017 | Vectura Group (VEC LN) VR315 risk outweighs longer-term potential
Pickup in H2 organic growth as expected
20 Apr 17
Headline revenue growth of 19% reflects a full half contribution of ID Scan and a pickup in organic growth to 12% across the year driven by the excellent performance from the higher margin international services. The mix effects of this growth resulted in EBIT of £17m, 4% ahead of our forecasts, and a 1.1pp improvement in the operating margin.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)