Welcome aboard. Bell Potter put out a research report with a target price of 27c which could explain the volume.Yes, patience is indeed required. I wouldn’t call this a defensive stock. This is very much a cyclical stock in that housing and infrastructure are huge drivers of demand and large reductions in demand can have a devastating impact on profitability as prices drop (due to excess market supply) while utilisation also drops - a very bad combination.
BUT infrastructure spending is high with a strong pipeline to support the group and that is where they have invested. It’s worth noting that growth capex has been SPENT so they just need a few contract wins and profits + margins will increase.
As a reminder to everyone else, the latest NTA was 22c which is just below the SP today. The balance sheet is strong and a Uni-Span acquisition is likely to be accretive and result in broker upgrades - both brokers have not factored any M&A in their modelling. Plus, investors are being compensated with a very attractive yield which has scope for growth given the payout ratio (from memory) was only 40% while the present PE is extremely low. GLTAH
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Last
93.5¢ |
Change
-0.005(0.53%) |
Mkt cap ! $281.8M |
Open | High | Low | Value | Volume |
95.0¢ | 95.5¢ | 93.0¢ | $588.3K | 625.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 21389 | 93.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
94.5¢ | 5968 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 21389 | 0.935 |
5 | 47574 | 0.930 |
4 | 62678 | 0.925 |
7 | 97547 | 0.920 |
5 | 107064 | 0.915 |
Price($) | Vol. | No. |
---|---|---|
0.945 | 5968 | 1 |
0.950 | 52016 | 2 |
0.970 | 4310 | 1 |
0.975 | 36000 | 1 |
0.980 | 37000 | 1 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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ACF (ASX) Chart |