So, the CEO has been back to the market well twice now in a couple of weeks and as everyone has noted, that's usually a good sign about where both the business and the share price might be heading.
In that context, it had been drawn to my attention that ACF was one of the few businesses that seemed to have been performing really well during the periods of Victorian and NSW lockdowns because formwork and scaffolding rentals kept generating revenue while sites remained idle and the overall rental periods were then extended by clients after the lockdowns to reflect the impact of idle periods during the lockdowns.
Anyway, against that background, I had wondered if the two recent guidance upgrades were disproportionately impacted by the extended rental periods caused by the lockdowns (ie extraordinary or most likely one-off impacts). However, after reviewing the guidance upgrades it seems pretty clear to me that they are both based on an improved outlook "across all metrics".
The recent on-market buying action by the CEO simply confirms that outlook for me.
zeno9
ACF Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
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