Accsys Technologies (AXS)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

60.20p
   
  • Change Today:
      1.20p
  • 52 Week High: 107.00
  • 52 Week Low: 50.25
  • Currency: UK Pounds
  • Shares Issued: 239.30m
  • Volume: 96,647
  • Market Cap: £144.06m
  • RiskGrade: 210

Canaccord Genuity lowers target price on Accsys Technologies

By Iain Gilbert

Date: Tuesday 13 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity lowered their target price on wooden products retailer Accsys Technologies from 190.0p to 150.0p on Tuesday, citing delays to the group's new Tricoya plant.
Canaccord Genuity said it had opted to revise its target price on the stock following the announcement that completion of Accsys' new plant in Hull had been impacted by "successive revisions to timelines" relating to reworking, Covid-19, and the termination of the lead engineering, procurement and construction contractor.

The Canadian bank said that June's trading update from Accsys had detailed a focus on plant commissioning, with operation in "the coming months". However, it said the latest trading update had confirmed that progress had continued at a slower pace than anticipated, with reduced activity on site and a focus on reducing costs by the consortium of partners.

"Operational activity is now not expected in 2022, shifting our forecasts to the right," said the analysts

However, Canaccord, which stood by its 'buy' rating on the stock, acknowledged that manufacturing of and trading in its core Accoya product unit had remained "highly robust", and said it remains confident in both near-term cash flows and the stock's long-term story.



Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

AXS Market Data

Currency UK Pounds
Share Price 60.20p
Change Today 1.20p
% Change 2.03 %
52 Week High 107.00
52 Week Low 50.25
Volume 96,647
Shares Issued 239.30m
Market Cap £144.06m
RiskGrade 210

AXS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
40.87% below the market average40.87% below the market average40.87% below the market average40.87% below the market average40.87% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Price Trend
46.63% below the market average46.63% below the market average46.63% below the market average46.63% below the market average46.63% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average
Income Not Available
Growth
88.38% above the market average88.38% above the market average88.38% above the market average88.38% above the market average88.38% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

AXS Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:27 25 @ 60.00p
16:06 1,600 @ 62.00p
15:51 946 @ 61.00p
15:51 946 @ 61.00p
15:49 1,000 @ 61.00p

AXS Key Personnel

CFO Steven Salo
CEO Jelena Arsic van Os

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