Coats Group (COA)

Sector:

Financials

Index:

FTSE 250

95.90p
   
  • Change Today:
    -0.70p
  • 52 Week High: 104.20
  • 52 Week Low: 66.00
  • Currency: UK Pounds
  • Shares Issued: 1,597.81m
  • Volume: 1,546,749
  • Market Cap: £1,532.30m
  • RiskGrade: 39
  • Beta: 1.20

Berenberg hikes target price on Coats following H1 numbers

By Iain Gilbert

Date: Friday 02 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on thread and structural components manufacturer Coats Group from 100.0p to 120.0p on Friday as it said the group was "knitting it all together" during H1.
Berenberg said Coats' interim results for the six months to 30 June showed "a highly credible organic growth performance" and noted that a slight upgrade to FY24 guidance, stronger-than-expected margin performance and incrementally more positive commentary about the market recovery saw the shares react strongly on the day after having been range-bound for the past few years.

"At a current valuation of 12.5x FY25 P/E, we still see a lot to like in the shares. We move our price target to 120p (from 100p) as the group enters into what we expect could be the start of a sustained market recovery and upgrade cycle," said Berenberg, which stood by its 'buy' recommendation on the stock.

"We roll our previous valuation methodology of 15x FY1 P/E over from our FY24 forecasts to our FY25 forecasts. Beyond mechanics, we also think it is logical to assign more value to Coats on the back of its H1 results: organic growth has continued to build, with all three divisions in growth in Q2, and this is expected to continue; margins of 18% were provably ahead of management's FY24 target; and volumes and destocking trends have continued to normalise into what now looks like a sustainable market recovery."

































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.

 

Coats Group Market Data

Currency UK Pounds
Share Price 95.90p
Change Today -0.70p
% Change -0.72 %
52 Week High 104.20
52 Week Low 66.00
Volume 1,546,749
Shares Issued 1,597.81m
Market Cap £1,532.30m
Beta 1.20
RiskGrade 39

Coats Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
85.91% below the market average85.91% below the market average85.91% below the market average85.91% below the market average85.91% below the market average
92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average
Price Trend
79.33% above the market average79.33% above the market average79.33% above the market average79.33% above the market average79.33% above the market average
58.93% above the sector average58.93% above the sector average58.93% above the sector average58.93% above the sector average58.93% above the sector average
Income
41.24% below the market average41.24% below the market average41.24% below the market average41.24% below the market average41.24% below the market average
71.88% below the sector average71.88% below the sector average71.88% below the sector average71.88% below the sector average71.88% below the sector average
Growth
35.61% below the market average35.61% below the market average35.61% below the market average35.61% below the market average35.61% below the market average
5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average5.88% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Coats Group Dividends

  Latest Previous
  Interim Final
Ex-Div 17-Oct-24 02-May-24
Paid 14-Nov-24 30-May-24
Amount 0.93¢ 1.99¢

Trades for 12-Nov-2024

Time Volume / Share Price
16:36 65,000 @ 95.90p
16:36 714 @ 95.90p
16:36 4,441 @ 95.90p
16:36 3,720 @ 95.90p
16:36 4,437 @ 95.90p

Coats Group Key Personnel

Chair David Gosnell
CFO Jackie Callaway
CEO David Paja

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