Market's view on Restore
Published on April 2024
- Stock watcher noted no surprises in recent results, with revenue at the lower end but net debt also low.
- Another stock watcher observed a director doubling his stake, suggesting it might be a good time to increase holdings.
- A stock watcher mentioned the company breaking out of recent consolidation, citing director buying and a strategic shift as positive signs.
- Concerns were raised about the CEO departure, seen as a negative factor, potentially making the company ripe for a takeover.
- Mixed reactions to executive changes were noted, with one stock watcher positive about the return of Charles Skinner as CEO, while another expressed concern over both the CEO and CFO resigning.
- A stock watcher highlighted a significant HMRC contract and improvements made by Charles Skinner in simplifying operations and reducing costs.
- The impact of a £100 million market cap drop was discussed, attributed to a reduction in expected adjusted profit before tax, raising concerns about the company’s nearly £100 million debt.
- Positive sentiment was expressed about the stock price gaining traction, with several brokers recommending to buy and a specific upgrade in target price.
- Mixed performance predictions for 2024, with one watcher optimistic while another flagged potential challenges ahead of interim results.
- Comments on the company’s core operations suggested a preference for sticking to storage specialities rather than risky diversification.